Strivacity raises $20M to ease application access management for developers
Strivacity Inc., a startup that helps developers manage application signup and login requests, has raised $20 million in fresh funding.
Announced on Tuesday, the investment is described as a Series A2 funding round. SignalFire led the round with participation from Ten Eleven Ventures. Mandiant Chief Executive Officer Kevin Mandia and Jack Huffard, a co-founder of cybersecurity company Tenable Holdings Inc., contributed as well.
Strivacity provides a platform that enables developers to quickly add a user account creation form to their applications. Usually, the task requires a significant amount of custom code. It says its platform speeds the task with templates and other features that reduce the need for manual programming.
Besides creating a form through which customers can sign up, application developers must also build a database for storing users’ account data. Strivacity promises to ease that task as well. It provides tools that developers can use to manage user account data, as well as provide self-service password reset features.
The platform is capable of processing not only user signups but also login requests. According to the startup, its platform enables developers to implement both password-based and passwordless login features in their applications. It also supports single sign-on, a technology that allows workers to sign into multiple business applications at once.
To block hacking attempts, Strivacity has built an artificial intelligence security engine. The engine maps out how a user typically interacts with an application and identifies access requests that don’t follow the usual pattern. If an account is accessed from an insecure network or at an unusual time of day, it can require the user to log in again.
“We believe simple sign-in journeys are the modern digital doorway to grow customer relationships. That’s why we built Strivacity,” said co-founder and Chief Executive Officer Keith Graham. “We’re 100% focused on creating surprisingly simple customer sign-in journeys and this new investment will accelerate our strategy and the opportunity ahead of us.”
The company will reportedly use the new capital to grow its 40-person workforce to 70 employees over the next year. The new employees will help it expand its go-to-market efforts, as well as speed up feature development.
Strivacity’s funding round comes a few months after Strata Identity Inc., another startup focused on easing application access management, raised $26 million. Many applications use a type of software known as an identity and access management, or IAM, system to process sign-in requests. Strata offers a platform that makes it easier to upgrade applications from legacy IAM systems to newer cloud-based alternatives.
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