COVR Security
Track on RadarMobile MFA-as-a-service using out-of-band tech for banks and payment networks.
- Total raised
- $3.85M
- Employees
- 18
- Founded
- 2015
- Momentum
- 20
Stalling
Data updated August 2026
About
About COVR Security
At a glance
COVR Security is a cybersecurity company specializing in IAM, founded in 2015 and headquartered in Malmö, Sweden. It has raised $3.85M in total funding, employs about 18 people, and is privately held.
COVR Security is a Swedish company founded in 2015 that provides mobile, multi-factor authentication-as-a-service (MFAaaS). The company was built on principles derived from Sweden's BankID system and uses out-of-band (OOB) technology to separate authentication from transaction channels, reducing the risk of interception or man-in-the-middle attacks. The company's core offering is a secure identity verification and authentication platform targeting industries that require strong customer authentication, including banks, payment networks, credit card companies, electronic ID (eID) providers, IoT companies, and mobile carriers. The out-of-band approach ensures that authentication occurs on a separate channel from the transaction being authorized, making it significantly harder for attackers to compromise both simultaneously. COVR Security describes its architecture as inspired by Nordic banking security standards, which it aims to deploy globally, particularly in new and emerging markets. The platform is delivered as a service, enabling organizations to integrate enterprise-grade authentication without building the underlying infrastructure themselves. The company is headquartered in Malmö, Sweden, with additional offices in Göteborg (Sweden), Palo Alto (USA), Frankfurt (Germany), Bangkok (Thailand), and Dubai (UAE), reflecting a global operational footprint. Its leadership team includes a Founder/CIO, Co-Founder/CEO, CTO, CFO, CHRO, and a Chief Commercial Officer, among other technical and regional roles covering the Asia Pacific region and European markets.
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FAQ
Frequently asked questions about COVR Security
When was COVR Security founded?▾
COVR Security was founded in 2015.
Where is COVR Security headquartered?▾
COVR Security is headquartered in Malmö, Sweden.
How much funding has COVR Security raised?▾
COVR Security has raised a total of $3.85M in total funding.
Is COVR Security public or private?▾
COVR Security is a privately-held company.
How many employees does COVR Security have?▾
COVR Security has approximately 18 employees.