Total amount raised
$205 Millions
Latest funding date
02/01/2022
Location
Beyond Identity has successfully raised significant funding through multiple rounds, with its latest being a Series C round. The company is backed by prominent investors, including Potentum Partners and Evolution Equity Partners.
Keep reading to explore the intricacies of Beyond Identity's fundraising journey and the investors backing this innovative platform.
What Is Beyond Identity?
Beyond Identity, founded in April 2020, is headquartered in New York, New York. The company was established by James Clark, Nelson Melo, and Thomas Jermoluk.
Specializing in passwordless identity management solutions, Beyond Identity aims to secure digital business by replacing passwords with secure X.509-based certificates. Their cloud-native solution includes adaptive risk-based authentication and authorization.
With a team of 101-250 employees, Beyond Identity focuses on increasing business velocity, reducing operating costs, and achieving complete passwordless identity management.
How Much Funding Has Beyond Identity Raised?
- Series A
- Amount Raised: $30M
- Date: April 2020
- Lead Investors: Koch Disruptive Technologies, New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their passwordless identity management solution.
- Series B
- Amount Raised: $75M
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Series C
- Amount Raised: $100M
- Date: February 2022
- Lead Investors: Evolution Equity Partners
- Valuation at Round: $1.1B
- Motivation Behind the Round: To expand research and development and extend the company's footprint into Asia-Pacific and Latin America.
Total Amount Raised: $205M. Current Valuation: $1.1B.
Key Investors
- Evolution Equity Partners
- Details: Evolution Equity Partners is a venture capital firm that focuses on investing in and supporting high-growth technology companies. They have a particular interest in cybersecurity, enterprise software, and data analytics.
- Investment Focus Areas: Cybersecurity, Enterprise Software, Data Analytics
- Notable Investments: Not explicitly mentioned in the sources.
- Koch Disruptive Technologies
- Details: Koch Disruptive Technologies is a subsidiary of Koch Industries, focusing on investing in innovative and transformative technologies. They aim to partner with high-growth companies to drive long-term value.
- Investment Focus Areas: Technology, Energy, Industrial
- Notable Investments: Not explicitly mentioned in the sources.
- New Enterprise Associates (NEA)
- Details: New Enterprise Associates is one of the world's largest venture capital firms, investing in technology and healthcare sectors. They have a long history of supporting innovative startups and growth-stage companies.
- Investment Focus Areas: Technology, Healthcare, Consumer
- Notable Investments: Robinhood, Coursera, 23andMe
- Jim Clark
- Details: Jim Clark is a renowned entrepreneur and investor, co-founder of Netscape Communications Corp. and Silicon Graphics Inc. He has a long-standing working relationship with Beyond Identity's co-founder and CEO, Tom "TJ" Jermoluk.
- Investment Focus Areas: Technology, Internet, Software
- Notable Investments: Netscape Communications Corp., Silicon Graphics Inc.
- Potentum Partners
- Details: Potentum Partners is a venture capital firm that focuses on growth-stage technology companies. They aim to support innovative solutions and drive significant value creation.
- Investment Focus Areas: Technology, Growth-Stage Companies
- Notable Investments: Not explicitly mentioned in the sources.
What's Next for Beyond Identity?
Beyond Identity stands at the forefront of the zero-trust movement, addressing the increasing complexity of cybersecurity. With the growing adoption of SaaS applications and hybrid workforces, the company is poised to expand its footprint into the Asia-Pacific and Latin American markets. This expansion, coupled with the rising demand for secure digital business solutions, presents a significant growth opportunity.
Future fundraising rounds are likely as Beyond Identity continues to innovate and scale. The company's impressive growth metrics and strong market position make it an attractive target for further investment. However, challenges such as maintaining a high-performance culture and competing with other cybersecurity firms will need to be navigated carefully.
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