Austin, TX’s Toopher Acquired By Cloud-Computing Giant Salesforce
Online security company Toopher has been sold to Salesforce, according to a note from its co-founders that appeared Wednesday on the company’s website. San Francisco-based Salesforce confirmed the sale. Terms were not disclosed.
Toopher developed a technology that uses a person’s cell phone location to authenticate a user’s identity, in an effort to prevent online fraud and identity theft. Toopher will no longer sell its current products, though it will be “delivering the Toopher vision on a much larger scale” by joining cloud computing giant Salesforce (NYSE:CRM), according to the Austin, TX-based company’s founders Josh Alexander and Evan Grim.
Alexander, who wrote about the company for Xconomy in August, and Grim started the company in 2011 at the University of Texas at Austin, where Alexander was an adjunct professor teaching financial derivatives and Grim was a PhD student in software engineering. Toopher graduated from the Austin Technology Incubator two years later, shortly after it raised a $2 million Series A round from Alsop Louie Partners in San Francisco, Stonehenge Growth Capital in Dallas, and Austin-based Corsa Ventures.