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Beyond Identity Raises $100 Million To Accelerate Adoption Of Invisible, Un-Phishable Mfa For Customers And Employees

Feb 22, 2022•over 3 years ago

Amount Raised

$100 Million

Description

Invisible, un-phishable multi-factor authentication (MFA) provider Beyond Identity today announced a $100 million Series C funding round, which raises the company’s total funding to date to $205 million and propels its valuation to $1.1 billion. Evolution Equity Partners led the round, with existing investors New Enterprise Associates (NEA) and Jim Clark participating. Potentum Partners, Expanding Capital, and HBAM also joined the round. The new funding will be used to further expand Beyond Identity’s research and development and extend the company’s footprint and resources into Asia-Pacific and Latin America

Company Information

Company

Beyond Identity

About

Annual recurring revenue (ARR) rose by 330% from 2020 to 2021, its roster of customers grew 640%, and the company now has more than 180 employees across North America and EMEA – including a standout engineering team with over 100 developers. In 2021, the company launched Secure Customers and Secure DevOps to complement its existing Secure Work product and added dozens of integrations with identity and cybersecurity products across MDM, EDR, SIEM, code repositories, and more. We’re very excited to participate in this funding round to help the company further accelerate its growth and help customers remove one of the greatest cybersecurity risks they face today.” Beyond Identity provides a completely passwordless authentication ecosystem that has superior security and usability properties. For more information on why Intuit, Snowflake, and Roblox use Beyond Identity, please visit www.beyondidentity.com.

FundzWatch™ Score

Medium Activity

Funding Insights

Based on industry data

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech