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Working at SecureKey Technologies
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About
SecureKey built identity infrastructure rather than a consumer app, and spent more than a decade doing it quietly. Its Verified.Me network went live in May 2019 with seven Canadian financial institutions — BMO, CIBC, Desjardins, National Bank, RBC, Scotiabank and TD — running on the IBM Blockchain Platform. The idea was that a bank or the government could confirm you are who you say you are without anyone copying the underlying data: as Darrell MacMullin put it on the TechTO stage in January 2019, a landlord doesn't need your exact credit score, only an answer to whether it clears 700. SecureKey also ran the federal government's sign-in service, which he said was handling more than 10 million logins a month at the time. The company raised roughly $91.1M across eight rounds, including $27M from major banks in 2016. In October 2021 Interac acquired exclusive Canadian rights to the digital ID services and took over Verified.Me and Government Sign-In, which now run as Interac verification and Interac sign-in services. Avast announced it was acquiring SecureKey in March 2022; Avast merged with NortonLifeLock that September and the combined company was renamed Gen Digital in November 2022. SecureKey no longer operates independently.
Backers
About $91.1M raised across eight rounds, including $27M from major Canadian banks in 2016 (BetaKit, 2022-03-24). The full investor list is not confirmed here.
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Quick answers
What did SecureKey Technologies do?
It built digital identity infrastructure. Its Verified.Me network let a bank, credit union or government department confirm someone's identity to another organization in seconds, without pooling or copying the underlying personal data. It also ran the sign-in service Canadians used to reach federal government services.
Who founded SecureKey Technologies?
Greg Wolfond founded it in Toronto in 2007 and was its CEO. Darrell MacMullin, who ran strategy and go-to-market there, is the person who took the TechTO stage for SecureKey in January 2019.
What happened to SecureKey Technologies?
It was split up and absorbed. Interac acquired exclusive Canadian rights to its digital ID services in October 2021 and took over Verified.Me and Government Sign-In, which now run under Interac's own branding. Avast announced its acquisition of the rest of SecureKey in March 2022 for undisclosed terms. Avast then merged with NortonLifeLock, and the combined company became Gen Digital in November 2022. SecureKey no longer operates as an independent company.
Was Verified.Me actually built on blockchain?
Yes. It ran on the IBM Blockchain Platform, based on Hyperledger Fabric. MacMullin argued on the TechTO stage in 2019 that identity, not currency, could turn out to be the catalyst use case for blockchain, and called it probably the largest blockchain project in Canada — his claim at the time, not an independently verified one.