MYKI, a Lebanese tech startup and digital ID management provider, announced that it has been acquired by the US-based global Tech company JumpCloud.
MYKI works on decentralizing password management for users around the world. It provides data protection tools for users to safely access their passwords in one digital medium, allowing users to log in to accounts using biometric authentication such as touch ID and face ID.
The startup was founded in Beirut in 2015 by its CEO Antoine Jebara, who made it on Forbes 30 Under 30 list in 2021, and by COO Priscilla Sharuk who ranked among Forbes’ Top 10 Women in Tech MENA in 2020.
MYKI had previously attracted investments by Dubai-based BECO Capital and BY Venture Partners (BYVP). After that, MYKI moved some of its operations to New York City.
MYKI also developed an application for Teams, a communication platform, giving administrators visibility and control over the company’s access management.
In 2020, MYKI made it on Forbes’ list of The Middle East’s 50 Most Funded Startups, ranking 47th in the list with $5.2 million in total funding.
The Lebanese tech company counts 40 employees and has more than 1 million customers across 172 countries.
In regards to the acquisition by the US-based global tech, MYKI said, “This is a new chapter for us as we turn our MSP know-how, engineering talent, and our technical expertise towards enhancing the JumpCloud platform to deliver superior security, ease of use, and value to both MSPs and SMEs.”
JumpCloud is a US-based tech company centralizing the management of user identities through SSO, MDM, MFA, while also enabling small and medium-sized enterprises to adopt zero-trust security models.
JumpCloud operates with more than 5,000 paying customers, including Cars.com, GoFundMe, Grab, ClassPass, and Uplight.