Tag Archives: Dug Song

Duo Security Revenue Jumps 135%

ANN ARBOR — Duo Security, the Ann Arbor-based information security provider, provided its first-ever revenue figures this week, reporting $73 million in annual recurring revenue for 2016, a 135 percent increase from the $31 million achieved in 2015.

This is the fourth straight year the company has more than doubled its recurring revenue and the first year the company is cash-flow positive.

Quadrupling its user base to more than five million in 2016, Duo protects more than 8,000 paying customers and manages more than six million authentication events per day.

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Duo Security Gets $2.5M State Grant To Add Jobs In Ann Arbor

LANSING – Duo Security, the Ann Arbor-based provider of access security technologies, announced plans to expand in Ann Arbor with support from the Michigan Strategic Fund.

The project is expected to generate nearly $2.5 million in total investment and support the creation of up to 300 direct Michigan jobs over the next three years. Duo also has locations in California and Texas, and in London, England.

As a result of this expansion, the Michigan Strategic Fund approved today a $2.5 million Michigan Business Development Program performance-based grant. The MSF board approves grants and loans administered by the Michigan Economic Development Corp., which promotes economic development opportunities including retaining and attracting business to the state.

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Ann Arbor’s Duo Security Opens London Office

ANN ARBOR — Duo Security, the Ann Arbor-based access security technology provider, announced the opening of an office in London as part of an expansion into Europe, the Middle East and Africa.

Leading operations for the region will be is Henry Seddon, who has been named vice president of the EMEA region. Seddon brings a wealth of industry experience and expertise, from a career in technology spanning 20 years. His initial focus will be to build a highly skilled team for the London office to support Duo Security customers across the region.

Duo has developed a cloud-based two-factor user authentication system that is being used by organizations that need to ensure that their users are who they say they are in order to protect their corporate networks.

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Two-Factor Security Firm Duo Raises $12M

ANN ARBOR — Duo Security, a provider of cloud-based two-factor user authentication for computers and mobile devices, says it raised $12 million in Series B capital.

The round was led by Benchmark Capital of Menlo Park. Calif.

Duo says it will use the money to fuel its growth and expand its product portfolio with additional security technologies to protect user access of corporate services and data.

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LTU, WWJ Name Duo’s Song Leader & Innovator Of The Year

SOUTHFIELD — Dug Song has been named Leader and Innovator of the Year by Lawrence Technological University, the eighth person named to the annual award developed by Lawrence Tech to recognize Michigan business executives that demonstrate superior skills in leading the top industries that are key to Michigan’s economic future.

Song, CEO and co-founder of Ann Arbor-based Duo Security,
was chosen from more than 40 nominees for his numerous
significant contributions to the information security industry.

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