Venture Capital News: Auth0 Raises $9.3M Series A
BELLEVUE, WA, Leading universal identity platform, today announced it has raised a total of $9.3M in funding led by Bessemer Venture Partners.
Auth0, the leading universal identity platform, today announced it has raised a total of $9.3M in funding led by Bessemer Venture Partners, with participation by K9 Ventures and others. The company will use the funds to support the high subscriber growth of its identity-as-a-service platform for developers, specifically focusing on expanding its marketing and customer success staff and developing additional product features to make strong identity security even easier for developers to implement and manage.
'So Bessemer is thrilled to partner with the best identity team in the world to deliver secure login as a service - as easy to use as Twilio, SendGrid and Stripe.'
Auth0 is on a mission to simplify enterprise, social and custom identity management for developers everywhere. Vastly different from traditional authorization and authentication solutions, Auth0's cloud platform makes strong authentication and authorization simple to implement for developers and IT administrators by augmenting and extending existing or new identity environments. With Auth0, developers no longer need deep vertical experience across authorization, authentication, identity management and security. Instead they can quickly leverage the world-class security and identity expertise of the Auth0 cloud service to secure modern mobile and web applications and APIs by simply adding a few lines of code, regardless of the complexity of the identity environment.
'Implementing identity for anything more than the most trivial scenario has historically been a massive pain,' said CEO Jon Gelsey. 'That pain translates both into weaker security and delays in shipping new applications, APIs or IoT devices. The friction of traditional identity implementation has often meant that developers are forced to trade strong identity security for on-time product launches. Auth0 makes strong identity security easy to implement without making any sacrifices.'
While developers love Auth0 because it's the fastest and simplest way to implement identity even in the most complex identity environments, their enterprises love Auth0 because it ensures their users always benefit from the latest state-of-the-art security features. This includes a sophisticated, configurable, and contextual multifactor authentication capability as well as numerous additional security policies that developers can implement with a click.
'It's now painfully obvious that insecure or incomplete authentication implementations are creating vulnerabilities, jeopardizing customer trust, and hindering enterprise adoption of cloud and mobile services,' observed VeriSign co-founder David Cowan, a partner at BVP. 'So Bessemer is thrilled to partner with the best identity team in the world to deliver secure login as a service - as easy to use as Twilio, SendGrid and Stripe.' As part of the Series A round, Sunil Nagaraj of Bessemer Venture Partners will join the board of Auth0.
Auth0's Series A funding of $6.875M, added to the $2.4M raised in a convertible seed round last September, brings its total raised to over $9M. The company plans to invest in marketing, customer success, and new product features to further extend and support its rapidly growing customer base. Auth0's 20,000+ subscribers include world-class enterprises like Schneider Electric, JetPrivilege, and Mindjet. Auth0 subscribers are located in more than 150 countries worldwide. The Series A funding will enhance Auth0's capability to deliver a platform that meets developers' evolving needs.
Auth0 is identity made simple for developers. The company, a universal platform for authentication and authorization, makes it easy for developers to implement even the most complex identity solutions for their web, mobile and internal applications, APIs and IoT devices. Auth0 enables developers and IT staff to easily and securely set up social and enterprise identity provider registration and login, username and password, single-sign-on, multifactor authentication and more. Subscribers include more than 20,000 companies ranging in size from small startups to large enterprises in more than 150 countries around the world. Auth0 is headquartered in Bellevue, WA. Investors include Bessemer Venture Partners, K9 Ventures, Silicon Valley Bank, Founders Co-Op, Portland Seed Fund and NXTP Labs. For more information visit https://auth0.com or follow @auth0.
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) invests in early-stage and hyper-growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, San Francisco, Cambridge, New York, Bangalore and Herzliya. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like Pinterest, Twilio, Box, LinkedIn, Shopify, Yelp, Skype and CornerstoneOnDemand. Over 100 BVP companies have gone public - in the last three years alone, BVP has had 46 exits (IPO and M&A) and made new investments in more than 85 companies. Learn more at www.bvp.com and follow us on Twitter @BessemerVP.
About K9 Ventures
K9 Ventures is a technology focused micro-VC fund led by Dr. Manu Kumar. K9 is based in Palo Alto, California and invests in teams of technical founders in Silicon Valley, who are creating new technology or opening new markets, with a direct revenue model. K9 primarily invests at the pre-seed or seed stage and has invested in several companies including Lyft, Twilio, CardMunch, Occipital, NimbleVR, eShares, Coin, Osmo, and more. K9 Ventures can be found on the web at k9ventures.com or on Twitter at @K9Ventures.
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