Seattle based Auth0, which owns a heavily used identity verification security platform, announced Monday morning that it has raised $103 million in its latest funding round.
This Series E mature stage funding round pushes Auth0 into unicorn status at $1 billion in valuation. It’s the 24th US based tech startup to hit billion dollar status and ranks 17th in the newly updated UnicornWatch, which tracks the year’s unicorn tech startups.
Sapphire Ventures led this round, along with K9 Ventures, Telstra Ventures, Meritech Capital, Bessemer Venture Partners and World Innovation Labs. Auth0 has raised $210 million to date.
“This Series E funding is validation that what we are doing and the platform we are providing are imperative for the success of our customers,” said Eugenio Pace, CEO and co-founder of Auth0’ in a blog post. “Businesses cannot afford a data breach, and this investment is a key indicator that identity management is an industry worth investing in. We are truly grateful for the continued support from our investors for Auth0.”
Founded in 2013, Bellevue, Washington based Auth0 provides authentication-as-a-service platforms to its corporate clients. It has 7,000 corporate clients including News Corp., AMD, FuboTV, Talbots, Mozilla, and PBS.