Bellevue-based Auth0 announced a Series A funding round of almost $6.9 million last week. CEO Jon Gelsey said the round probably should have been called a Series B instead of A because of the health of the company’s financials.
Auth0 was founded in 2013 and excepting a family-and-friends seed round, has subsisted on steady revenue from subscribers. Auth0 is built like a consumer-facing cloud application, keeping simplicity and easy user-experience as its goal. The twist is that the company’s target customer is the developer.
“We are a cloud service for developers to make it easier for them to implement much stronger identity, in terms of authentication and authorization,” Gelsey said.
The company began when CTO Matias Woloski became frustrated with the tools that were available for authentication and authorization. He became so fed up with the process that he began creating his own tool. The minimum viable product was sent to trusted associates, who responded in favor of the new product.
“They got really strong resonance, and after a few months we started charging for it to see if it went beyond a convenience to something that people would pay for. It’s been upward from that point on,” Gelsey said.
Gelsey said the new influx of money will sustain the company’s current trajectory, and fuel growth and scale.
“It’s almost as if our philosophy is we want something that is as easy to use and is as powerful as a typical consumer application, but it’s aimed at the core plumbing of the enterprise,” Gelsey said.
“We’ve been fortunate that we’ve never had to pivot our initial vision, which was to make identity easy for developers, and allow them to write much more secure applications. The simpler you can make authentication and security, the stronger it will be.”