Auth0 has raised $103m in its Series E funding round led by Sapphire Ventures, giving the Washington-based Identity-as-a-Service platform a valuation of more than $1bn.
This latest funding round brings Auth0’s total amount raised to more than $210m, after previously raising $55m in its Sapphire Ventures-led Series D round in May last year.
The VC was joined in the Series E by existing investors Bessemer Venture Partners, K9 Ventures, Trinity Ventures, Meritech Capital, and World Innovation Lab.
Led by Eugenio Pace, CEO and Co-founder, Auth0 provides thousands of enterprise customers with a universal identity platform for their web, mobile, IoT, and internal applications. The company’s platform authenticates and secures more than 1.5B logins per month.
Auth0 provides its solutions to a range of industries including B2B SaaS, financial services, healthcare, media, retail and real estate. It claims to make compliance easier by addressing key regulation challenges with a standards-based approach to SCA, authorisation, consent management, and API security.
The company recently embarked on an international expansion of its five offices in Bellevue, Buenos Aires, London, Sydney, and Tokyo.
“This Series E funding is validation that what we are doing and the platform we are providing are imperative for the success of our customers,” said Pace. “Businesses cannot afford a data breach, and this investment is a key indicator that identity management is an industry worth investing in. We are truly grateful for the continued support from our investors for Auth0.”
Sapphire Ventures is a repeat investor into the RegTech sector after backing Feedzai, a financial fraud risk management provider, which raised $50m in series C funding in 2017.
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