- Global Identity-as-a-Service (IDaaS) leader Auth0 has raised $103 million Series E
- Auth0 is now valued at more than $1 billion
- Sapphire Ventures led this round of funding
Auth0 — a global Identity-as-a-Service (IDaaS) leader — announced it raised $103 million in a Series E round of funding led by Sapphire Ventures at a valuation of more than $1 billion. This valuation gives Auth0 “unicorn status” — which is a term used for companies that surpass $1 billion.
This funding round is going to drive Auth0’s innovation pipeline and global growth. Including this round, Auth0 has raised more than $210 million.
“This Series E funding is validation that what we are doing and the platform we are providing are imperative for the success of our customers,” said Auth0 CEO and co-founder Eugenio Pace. “Businesses cannot afford a data breach, and this investment is a key indicator that identity management is an industry worth investing in. We are truly grateful for the continued support from our investors for Auth0.”
Founded by CTO Matias Woloski and Pace, Auth0 offers a highly customizable and developer-centric identity management platform. This platform has been an essential technology for 7,000 Auth0 customers worldwide as it provides secure identity management for customers, business partners, employees, and devices. Auth0’s extensible platform seamlessly authenticates and secures over 2.5 billion logins per month.
Sapphire Ventures led this funding round with additional participation from existing investors Bessemer Venture Partners, K9 Ventures, Trinity Ventures, Meritech Capital, and World Innovation Lab. Sapphire had also previously led Auth0’s $55 million Series D round about a year ago.
“Auth0 has demonstrated incredible momentum and continues to be a shining model for unparalleled technology, leadership, and growth,” added Sapphire Ventures managing director Anders Ranum. “You can see Auth0’s ethos in the product itself — a highly sophisticated cybersecurity platform that’s universal, scalable, and extensible. The company is changing the approach to business by offering a platform that any company can use to protect digital identities.”
Auth0 is also continuing to double customer growth and revenue year-over-year. The company now employs about 475 people with 316 employees brought on in the last two years alone.
