Total amount raised
$32.5 Millions
Latest funding date
08/01/2023
Location
Cerby has successfully raised $17 million in a Series A funding round, supported by a total of 17 investors. The platform specializes in modernizing identity management for disconnected applications, offering solutions like securing social media logins and automating user provisioning.
Keep reading to explore the intricacies of Cerby's fundraising journey and the investors backing this innovative platform.
What Is Cerby?
Cerby, founded in May 2020, is a cybersecurity company based in San Francisco, California. The company was established by Belsasar Lepe and Vidal Gonzalez.
Specializing in identity management and security for disconnected applications, Cerby integrates with tools like Okta and Microsoft Entra to provide Single Sign-On (SSO), Multi-Factor Authentication (MFA), and lifecycle management. The platform is designed to help IT and security teams centralize access controls and automate security tasks.
With an employee count ranging from 101 to 250, Cerby has garnered recognition for its innovative solutions, including an award for "Password Management Solution of the Year." The company is trusted by top brands like Colgate-Palmolive, Crunchyroll, and L'Oreal.
How Much Funding Has Cerby Raised?
- Pre-Seed Round
- Amount Raised: $3.5M
- Date: September 2020
- Lead Investors: Bowery Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's initial operations and develop its core technology.
- Seed Round
- Amount Raised: $12M
- Date: February 2022
- Lead Investors: Ridge Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand the team.
- Series A
- Amount Raised: $17M
- Date: August 2023
- Lead Investors: Two Sigma Ventures, Outpost Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations, invest in product development, and increase workforce.
Total Amount Raised: $32.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Bowery Capital
- Details: Bowery Capital is a venture capital firm focused on early-stage investments in the technology sector. They aim to support startups through their initial growth phases.
- Investment Focus Areas: Technology, SaaS, Enterprise Software
- Notable Investments: Namely, Transfix, Electric
- Two Sigma Ventures
- Details: Two Sigma Ventures is an early-stage venture capital firm that invests in data-driven startups. They leverage data science and advanced engineering to support their portfolio companies.
- Investment Focus Areas: Data Science, Fintech, Healthcare
- Notable Investments: Enigma, Socure, NS1
- Ridge Ventures
- Details: Ridge Ventures is a venture capital firm that invests in early-stage, B2B software companies. They focus on helping startups scale and succeed in competitive markets.
- Investment Focus Areas: B2B Software, SaaS, Enterprise Software
- Notable Investments: Discord, Fastly, Krux
What's Next for Cerby?
With a successful $17 million Series A round, Cerby is poised to capitalize on the growing demand for cybersecurity solutions. The platform's focus on identity management for disconnected applications aligns well with industry trends, particularly the increasing investments in SaaS and application management platforms.
As Cerby scales its operations, future fundraising opportunities seem promising. The company may attract additional rounds of funding, potentially becoming an acquisition target for larger tech firms. However, challenges such as intense competition in the SaaS space and market volatility could pose hurdles. Maintaining product quality and innovation will be crucial for Cerby's sustained growth.
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