ROCHESTER, N.Y.--(BUSINESS WIRE)-- Token, a revolutionary provider of secure, wearable authentication solutions, today announced the appointment of Rommel De La Cruz as the company’s Chief Financial Officer. De La Cruz’s decades of experience will support Token's rapid scaling growth in bringing its disruptive solution to a market in dire need of an effective way to stop ransomware and data breaches.
The unchecked spread of ransomware is resulting in destructive consequences for data breach victims with more that 60% of SMBs failing after a successful attack. The number of victims doubled year over year and the average loss also doubled to more than $1M per victim. Compromised user credentials from phishing and social engineering continue to be the root cause of most data breaches and Token’s smart ring is the only solution to offer complete protection against these types of attacks.
“We have an incredible opportunity in front of us with a game-changing solution that stops the ransomware attacks that are succeeding against every type of organization today and we anticipate strong demand. To ensure support for Token’s hypergrowth, we need a professional with proven skills and experience,” said Token CEO John Gunn. “Rommel has an impressive record of building finance operations in successful organizations and he is the perfect financial leader for Token.”
Mr. De La Cruz joins Token from rapidly growing startup project44, a cloud-based supply chain visibility platform, where he was the Vice President of Finance and Strategy leading the company’s global financial planning and analysis. Prior to project44, he was Vice President of Finance for OneSpan, the leading digital agreements security company, where he scaled corporate financial planning, operational finance and business intelligence functions, and implemented several enterprise-wide business applications. He has also held senior finance positions at Groupon and Motorola.
“I’m excited to join such a dynamic team bringing a next generation, passwordless authentication solution to market,” said De La Cruz. “The smart ring’s form factor and embedded biometric authentication fix what is broken with today’s solutions providing a higher level of security and a frictionless user experience.”