Cyber security start-up Myki announced on the TechCrunch Disrupt Berlin stage the launch of the “Myki for Teams” out of private beta.

The announcement comes as the consumer version ‘The Myki Password Manager & Authenticator’ reaches 150,000 global users after a six month period of organic growth.

Founded in Beirut in 2015 the company has redefined the future of digital identity by allowing users to securely manage their passwords away from the cloud.

Using the ‘Myki Portal for Teams’, company administrators can now sign up and add their team members to the Myki portal to manage their team’s passwords and access to company-owned accounts in real time.

The enterprise service is free for the first five users, after which a monthly subscription of $5.00 per user per month is charged. The consumer version remains free. 

For TechCrunch Disrupt Berlin Myki provided a Promo Code: “MYKITC17” to give conference  attendees 10 users free access to the Myki Portal for life.

“Myki for Teams” allows the company administrator to manage how, when, and where their teams access their online accounts.

A user cannot gain access to a service without the admin’s consent. Enterprise features include a secure password generator for team member accounts, group management for sales, marketing, and tech teams and location, time and IP-based access control.

Myki provides the convenience of the cloud without the associated risks by distributing sensitive information across user’s smartphones in a decentralized manner.

Passwords are not saved on the cloud, Myki servers, or any other place that could be a soft target for security attacks.

It relies on point-to point-military-grade encryption to securely push passwords from phone to computer.

Myki CEO and co-founder Antoine Jebara said: “We think the true future of fail-proof password security lies outside the coud and we are really happy to roll out Myki for Teams today.

“After months of testing, we’ve seen the difference that a seamless solution can provide to businesses.

“Myki is accelerating the evolution of password and identity authentication by providing management teams full visibility and control over their team’s digital workspace and each team members account.“

Also at TechCrunch Disrupt Berlin in response to high demand from its users, Myki announced the public beta launch of a new feature, “Myki for Crypto Keys,” which allows users to securely store, manage and backup private keys offline.

The Cyber Security market is growing 11 per cent year on year and set to reach $232 trillion by 2022.

The 2016 Cybercrime Report from Cyber Security Ventures predicts cyber crime will cost the world in excess of $6 trillion annually by 2021, making it more profitable than the global trade of all major illegal drugs combined.

Myki co-founder and COO Priscilla Elora Sharuk said: “We want to eliminate the password pain for both individuals and businesses and today’s announcement is an additional step in that direction.

“We designed Myki to be a tech savvy product that is made to be used by the non-tech savvy.

“Now more than ever, people and companies are able to secure their proprietary data in a seamless and affordable manner.

“We are firm believers that data management and protection is not a privilege, it is a right!”