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Identity platform Auth0 raises $103M, pushing its valuation over $1B

Auth0, a 2013-founded identity and authentication platform, has pushed into unicorn realm with a $1 billion valuation after raising $103 million in its latest successions E circular.

The circular was led by Sapphire Ventures, with participation from K9 Ventures, Telstra Ventures and several others. In all, Auth0 total funding tops $210 million to date.

Auth0 — pronounced “auth-zero” — provides authentication-as-a-service to its corporate customers — or, to everyone else, a secure login system used to properly authenticate the identity of employees. Anyone working in a medium-to-large business will know the process all too well. Auth0 provides login and authentication systems for a bevy of machine types — including Internet of Things devices — in a variety of formats, including solo sign-on, multi-factor authentication and passwordless logins.

By securing the perimeter to a corporate network, the company says it can prevent data breaches from unauthorized logins and improper access.

The company touts more than 7,000 enterprise customers with more than 2.5 billion logins per month. It’s come a long path since its $2.4 million seed circular in 2016.

Auth0 monarch executive Eugenio Pace said its successions E was “validation” that the company is doing things right.

Clearly it is: It says customer growth and revenue has doubled year-over-year, and its employee numbers have increased by more than half in two years. Its latest successions D funding circular that led its global expansion has seen offices also open in Buenos Aires, London and Sydney.

Auth0 said the successions E will help help the growth of its five global offices. Pace said he was “truly grateful” for his investors’ help.

Source
TechCrunch
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