FusionAuth, a US-based cybersecurity startup, has secured $65m in investment from Updata Partners to expand its identity solutions platform for developers.
Since its inception in 2018, the technology company has bootstrapped itself.
The capital infusion by Updata is FusionAuth’s first external fundraise.
FusionAuth said it will use the funding to scale its go-to-market efforts and accelerate development of new products to cater to the market demand.
The startup’s solution is used by developers for threat detection, machine-to-machine authentication, passkey support, multifactor authentication, passwordless login, and security controls.
FusionAuth claimed that its solution can be used locally, on dedicated machines, on virtual or cloud servers, or even without an internet connection.
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FusionAuth added that Currently, the platform is in use by over 450 clients spread over six continents, including companies such as Frontdoor, Oppenheimer & Co., and Stihl.
The company also offers a free community version of the platform that can be used to add login, registration, and user management features to applications.
FusionAuth founder and CEO Brian Pontarelli said: “Authentication is a mission-critical component for most applications, but engineering and product teams can no longer afford to take on the risk and complexity required to build their own solutions.
“FusionAuth is transforming customer identity with a feature-rich platform that makes it easy for developers to install and run anywhere then integrate with anything in minutes.”
As part of the funding round, Updata principal Dan Moss and general partner Jon Seeber will join the FusionAuth board.
Moss added: “FusionAuth’s developer-centric approach is redefining the market by removing friction and complexity of customer identity management — historically huge pain points — from the development process.
“With their impressive footprint and best-in-class feature set, FusionAuth is positioned to continue claiming market share over their competitors, and we look forward to partnering with them in this next phase of growth.”