Identity management solution provider Beyond Identity has raised $100m in a Series C funding round led by Evolution Equity Partners.
Following this round, Beyond Identity has bolstered its valuation to $1.1bn, making the company a unicorn. It has now raised a total of $205m since its inception.
Founded in 2020, Beyond Identity claims it is the most secure, passwordless authentication platform for tech forward-thinking organisations globally. The company added that its platform ‘fundamentally changes the way the world logs in’ by eliminating passwords and providing users with a frictionless multi-factor login experience.
By removing passwords and binding user identities, Beyond claims its solution can help firms prevent attacks that leverage compromised credentials.
According to Beyond, the new funding will be used for research and development and the firm’s expansion in the APAC and Latin America regions.
In December 2020, Beyond secured $75m in its Series B. This came only a matter of months after it closed its Series A on $30m.
Copyright © 2018 RegTech Analyst
