Auth0 Announces $55M in Series D Funding
Momentum signifies global demand for extensible identity management
BELLEVUE, Wash., May 15, 2018 (GLOBE NEWSWIRE) — Auth0, a global leader in Identity-as-a-Service (IDaaS), today announced $55 million in Series D funding, bringing the company’s total financing-to-date to more than $110 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 percent 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,” said 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,” said 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 fulfill 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,” said 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.”
About Sapphire Ventures
Sapphire Ventures is a venture capital firm focused on helping innovative technology companies become global category leaders. Leveraging nearly two decades of experience and an extensive global enterprise network, Sapphire Ventures invests capital, resources, and expertise to enable its portfolio companies to scale rapidly. Whether entrepreneurs sell to businesses, consumers or both, Sapphire Ventures offers a powerful platform for business development and operational excellence to help them accelerate growth. With $2.5 billion under management via direct growth investments and early-stage fund investments, Sapphire Ventures is positioned to elevate companies to the global stage.
About World Innovation Lab
World Innovation Lab (WiL) connects entrepreneurs with corporate resources to build global businesses. WiL is a multi-stage venture capital firm that invests in consumer and enterprise technology companies. With a deep network of global corporate partners, the firm is committed to providing startups with unparalleled investment and partnership opportunities. World Innovation Lab’s foundational platform includes the Japanese government investment arm and over 20 Japan leading corporations such as Sony, Nissan, All Nippon Airways, Mizuho Bank, Daiwa Securities, NTT, and KDDI. In addition to venture investment, WiL also collaborates with the world’s leading companies to incubate new businesses and to create spin-offs and joint ventures.
Auth0, a global leader in Identity-as-a-Service (IDaaS), provides thousands of enterprise customers with a Universal Identity Platform for their web, mobile, IoT, and internal applications. Its extensible platform seamlessly authenticates and secures more than 1.5B logins per month, making it loved by developers and trusted by global enterprises. The company’s U.S. headquarters in Bellevue, WA, and additional offices in Buenos Aires, London, Tokyo, and Sydney, support its customers that are located in 70+ countries.