InAuth, a provider of mobile fraud prevention and mobile application security, this week announced a $20 million Series A funding round led by Bain Capital Ventures, according to a press release.

InAuth said the investment comes after a year of record growth in which the company added four of the five largest U.S. banks as customers. BCV managing director Ben Nye will join the InAuth board.

Founded in 2011, InAuth serves customers that include large global banks, payment processors, e-commerce merchants, and health insurance companies.

To protect their users, application publishers embed InAuth's technology into their apps. InAuth then secures both application data and financial transactions from malicious actors, preventing fraud and data loss, according to the announcement.

InAuth CEO Lisa Stanton said: "We are excited to be partnering with Bain Capital Ventures to support our global expansion, as well as our entry into new verticals. Mobile transactions will grow at 50 percent CAGR over the next three years, compared to 10 percent CAGR for the desktop. Any business that needs to ensure trust in their mobile solutions will benefit from the products and solutions that InAuth provides."