Auth0 bolsters its unicorn status with close of new round

Auth0 extends its valuation to $1.92bn after closing its Series F round on $120m, as the company looks to continue its growth rate and expand globally.

The fresh equity burst was led by Salesforce Ventures, with contributions coming from previous backers Bessemer Venture Partners, Sapphire Ventures, Meritech Capital, World Innovation Lab, Trinity Ventures, Telstra Ventures and K9 Ventures. DTCP also joined the round as a new backer.

With the new capital, the company will look to increase its innovation and go-to-market expansion, in hopes of meeting global demand.

Auth0 became a unicorn last year after it closed a $103m Series E round. The funds were supplied by Bessemer Venture Partners, K9 Ventures, Trinity Ventures, Meritech Capital and World Innovation Lab.

Since the company was founded, it has raised more than $330m in equity.

The RegTech company claims it grew by 70% in 2019 and while the coronavirus is impacting businesses, Auth0 claims it has continued to grow.

Led by Eugenio Pace, CEO and Co-founder, Auth0 provides thousands of enterprise customers with a universal identity platform for their web, mobile, IoT, and internal applications. Its technology offers  businesses the capabilities to authenticate, authorise and secure applications, devices and users.

DTCP partner and head of venture capital Jack Young said, “Now, more than ever, safeguarding user access on all devices and connections is of paramount importance.

“Auth0 has positioned itself as a leader in Identity-as-a-Service and has gained the trust of application developers with its flexible, drop-in user identity management solution. We will use our European roots and strategic global network to help the Auth0 team continue along its growth track.”

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