Auth0 announced that it raised a $15 million Series B round of financing, led by Trinity Ventures. The Bellevue company has developed a universal platform for authentication and authorization, which makes it easy for developers to implement identity solutions for web, mobile, and internal applications.
“Identity is an asset. Unless it’s not secure – and then it can become a liability,” Jon Gelsey, CEO of Auth0, said in a statement. “Since Auth0 was founded four years ago we’ve provided subscribers with a frictionless way to implement strong identity security. This new funding will help fuel product development focused on even stronger security for our subscribers, which include the features available within Auth0’s Anomaly Detection suite.”
As part of the financing, Trinity general partner, Karan Mehandru, has joined the Auth0 board of directors.
“Authentication is the linchpin for all software applications. We were blown away by Auth0’s product,” Mehandru said. “It combines broad and deep functionality that the largest enterprises require, and the ease of use and out-of-the-box user experience that end users desire, delivered as a service to customers around the globe. The impressive revenue traction is a product of that unparalleled dedication to the company’s mission of owning authentication as a service and making it seamless. Trinity is thrilled to partner with such a stellar team and to provide the fuel for explosive growth.”
Auth0’s Series B funding of $15M includes existing investors Bessemer Venture Partners, K9 Ventures and Silicon Valley Bank. The company raised a Series A round in June 2015 of $9 million. In the past 12 months, Auth0 opened a new office in London and expanded business in Asia. The new round of funding will assist Auth0 to improve and expand its features, as well as meet a growing subscriber demand.