Sequent, a Santa Clara, California-based tokenization services provider, has announced the first close of $16 million Series C round of financing, according to a press release.  

The round of funding was led by TIS, part of TIS INTEC Group based in Japan, and supported by Sequent's existing institutional investors including Opus Capital Partners, SBT Ventures and Jado Investments.

"The market for tokenization technology and services will only continue to grow in the coming years. Sequent's comprehensive platform addresses the increasing need to provide trusted systems underlying the most threatened mobile environments and transactions," Fred Thiel, Sequent's chairman of the board, said in the release. "This recent investment will help fund enhancements to the core products and continued growth in support of our growing global network of partners."