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A year and more than 1,200 customer wins after its last funding round, Auth0 Inc. has nabbed an additional $30 million from a consortium led by Meritech Capital Partners to keep the momentum going.
The Bellevue, Washington-based startup competes in identity management with a cloud-based platform for regulating application access. It’s designed to save companies the trouble of writing custom code for vetting and managing the users who rely on their services.
According to Auth0, manually building these features slows down development and potentially leaves the door open to implementation errors that can be exploited by hackers. Given the frequency with which large-scale cyberattacks occur these days, it’s no surprise that the startup is seeing strong adoption. Its platform provides the ability to quickly incorporate authentication and authorization capabilities into an application using building blocks that have seen extensive use in the field.
The other factor behind Auth0’s rapid growth is versatility. The startup has put itself in a position to target a wide range of companies by building out a broad feature set that covers the different use cases where identity management is required quite extensively.
Auth0 works with cloud services, mobile apps and desktop programs along with many of the security technologies that companies use to protect their services. Moreover, the platform gives developers a great deal of freedom in how they implement its identity management features. They can set up a regular login screen or let users sign up with their social media profiles, enforce two-factor authentication and connect to Active Directory deployment if necessary.
Over on the backend, Auth0 provides a set of administrative features for managing accounts. Companies can use the service to analyze activity and quickly reset users’ credentials if they’re compromised.
Auth0 will use today’s funding to keep widening the adoption of its platform. As part of the expansion effort, the startup has opened two international offices over the past year to target customers in Europe and Asia. Revenue nearly tripled in this period on an annualized basis, growth that Auth0’s investors clearly expect to continue despite intense competition from rival identity management providers.
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