TeleSign Corp., a Marina Del Rey-based user verification company, announced Tuesday it has closed a $40 million Series B round. The company turned to Gibson, Dunn & Crutcher for legal counsel, while investors Adams Street Partners, March Capital Partners and Summit Partners each retained their own advisers, turning to Wilson Sonsini Goodrich & Rosati, Cooley and Kirkland & Ellis, respectively.
TeleSign, which raised $29 million from Summit in 2012, provides 2-step verification software—mobile-based fraud prevention and authentication services that make it harder for hackers to access accounts—to more than 500 clients. The company says these include nine of the top 10 U.S. web properties, but it doesn’t name names.
