Finsphere will utilize the additional funding to expand its patented Identity Security Services platform and grow its strategic partnerships with wireless carriers and targeted key industry players.

"Through strategic relationships with mobile network operators and working with key industry partners, Finsphere enables wireless carriers to help protect their customers," said Mike Buhrmann, CEO of Finsphere. "Finsphere provides a sophisticated analytics platform for the development of non-intrusive identity services to enhance privacy and protect information across all industry segments."

Tobin Ireland, Group Director of Commercial Development at Vodafone, joins the Finsphere Board of Directors. Also participating in the investment are existing Finsphere investors Mohr Davidow Ventures, Shasta Ventures, and Frazier Technology Ventures.

Finsphere uses its unique knowledge of identity validation and wireless technologies to offer companies non-intrusive, privacy enhancing solutions for multi-factor authentication of credit and debit card transactions, new account applications, online banking activities, mobile payments, enterprise access events and personal online identities.