Auth0, a startup based mostly in Seattle, has been serving to builders with a set of APIs to construct authentication into their purposes for the final 5 years. It’s raised a good bit of cash alongside the way in which to assist prolong that mission, and right this moment the corporate introduced a $55 million Sequence D.
This spherical was led by led by Sapphire Ventures with assist from World Innovation Lab, and current buyers Bessemer Enterprise Companions, Trinity Ventures, Meritech Capital and K9 Ventures. As we speak’s funding brings the entire raised to $110 million. The corporate didn’t need to share its valuation.
CEO Eugenio Tempo stated the funding ought to assist them increase additional internationally. In actual fact, one of many buyers, World Innovation Lab, is predicated in Japan and will assist with their presence there. “Japan is a vital marketplace for us and they need to assist clarify to us how the market works there,” he stated.
The corporate gives a simple manner for builders to construct in authentication companies into their purposes, also referred to as Identification as a Service (IDaaS). It’s quite a bit like Stripe for funds or Twilio for messaging. As a substitute of constructing the authentication layer from scratch, they merely add just a few strains of code and may benefit from the companies out there on the Auth0 platform.
That platform features a vary of service corresponding to single-sign on, two-factor identification, passwordless log-on and breached password detection.
They’ve a free tier, which doesn’t even require a bank card, and pay tiers based mostly on the sorts of customers — common versus enterprise — together with the variety of customers. Additionally they cost based mostly on machine-to-machine authentication. Tempo experiences they’ve 3500 paying clients and tens of hundreds of customers on the free tier.
All of that has added as much as a reasonably respectable enterprise. Whereas Tempo wouldn’t share particular numbers, he did point out the corporate doubled its income final yr and anticipated to take action once more this yr.
With a cadence of getting funding yearly for the final three years, Tempo says this spherical could mark the tip of that fundraising cycle for a time. He wasn’t able to decide to the concept of an IPO, saying that’s seemingly a few years away, however he says the corporate is near profitability.
With the brand new inflow of cash, the corporate does plan to increase its workforce as strikes into markets the world over . They presently have 300 staff, however inside a yr he expects to be between 400 and 450 worldwide.
The corporate’s final spherical was a $30 million Sequence C final June led by Meritech Capital Companions.