Auth0, a specialist in Identity-as-a-Service (IDaaS), has secured USD55 million in Series D funding, bringing the company’s total financing-to-date to more than USD110 million.
This round is led by Sapphire Ventures, and includes investment from World Innovation Lab, as well as from existing investors Bessemer Venture Partners, Trinity Ventures, Meritech Capital Partners, and K9 Ventures. The funds will be used to continue innovation of the company’s Universal Identity Platform, accelerate go-to-market programs, and drive global expansion.
The funding represents another major milestone for the company, following a banner year in 2017 that included a doubling of overall customers and more than 100 per cent revenue growth; 140 new employee hires; and the opening of additional offices in London, Sydney, and Tokyo. This growth is largely attributed to Auth0’s unique Universal Identity Platform, giving companies such as VMware, AMD, Mazda, NVIDIA, News Corp, and thousands of others the extensibility to customize the platform for their specific identity needs.
“Our goal is to identify companies that demonstrate consistent high growth in an industry that has incredible market potential. Between the outstanding leadership of the company and their disruptive technology offering, Auth0 offers that unique combination and then some. We are incredibly excited to take this journey together and help them scale to global market leadership,” says Anders Ranum, Partner at Sapphire Ventures.
“Corporations in Japan are looking for a scalable, unified identity platform that can cover complex use cases, and Auth0 is best positioned to serve such increasing needs,” says Rob Theis, General Partner at World Innovation Lab.
In today’s global economy where cloud architecture dominates, companies are seeking ways to converge platforms to simplify their technology and save time and resources. Auth0’s platform can fulfil any identity scenario, whether it’s for consumers, business partners, employees, or IoT devices, and eliminates the need for multiple identity providers.
“We are humbled by the support from our investors, and emboldened in our mission to provide the most extensible, powerful, and easy-to-use identity management solution available,” says Eugenio Pace, CEO and Co-founder of Auth0. “We look forward to using these funds to make our product and company even better, and to continue offering value to our incredible customers around the world.”