Identity Platform Auth0 Raises $120 Million Series F Fund With $1.92B Rating – TechCrunch

Auth0, a developer-centric identity platform, today announced that it has raised a $120 million Series F round led by Salesforce Ventures. Existing investors Bessemer Venture Partner, Sapphire Venture, Meritech Capital, World Innovation Lab, Trinity Venture, Telstra Venture, K9 Venture, and new investor DTCP also participated in the round.

The company has now raised a total of $330 million, including the $103 million Series E Round of 2019. The valuation of the company is currently $1.92 billion, the company says.

Image credit: Auth0

Auth0’s marquee customers include Atlassian, AMD, Autotrader and more. The company, which currently has 650 employees, increased both revenue and customer base by 70% in 2019, and now states that there are “thousands of customers” outsourcing identity management using services. ..

“Achieving Series F funding is a great milestone for us and we can’t thank the support of new and existing investors.” “Almost all apps and services have secure certification and seamless We rely on user experience. Our year-to-year growth reflects the enduring problems our technology is solving and we are proud to be part of your journey.”

The promise of Auth0 (pronounced auth-zero) is that developers only need to add a few lines of code to their application to add access to identity management services for external users and allow employees access to intranet services. Is to do.

“Auth0 is a leader in the fast-growing large-scale identity management market, and has shown significant growth,” said John Somorjai, EVP of Salesforce Corporate Development and Salesforce Ventures. “Auth0’s expertise in end-to-end identity products is fully integrated with Salesforce’s Customer 360 platform. We support their growth and support our customers with this new strategic investment from Salesforce Ventures. We look forward to driving further innovation.”

The company said it will use this new funding to “promote continuous innovation and market development,” and investors clearly believe that Auth0 is in a position to capture a significant portion of the identity and access management market. I will. This is a competitive area where Okta, Ping Identity, Microsoft, IBM, Oracle and others are competing for similar customer pools.

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