{"id":395126,"date":"2020-12-08T07:33:30","date_gmt":"2020-12-08T12:33:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=395126"},"modified":"2020-12-08T07:33:30","modified_gmt":"2020-12-08T12:33:30","slug":"beyond-identity-raises-75-million-to-take-customers-beyond-passwordless-to-the-identity-platform-of-the-future","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/beyond-identity-raises-75-million-to-take-customers-beyond-passwordless-to-the-identity-platform-of-the-future\/","title":{"rendered":"Beyond Identity Raises $75 Million to Take Customers Beyond Passwordless to the Identity Platform of the Future"},"content":{"rendered":"

\nFunds Will be Used to Advance \u201cPasswordless\u201d Into the Era of Continuous Authentication and Meet Exploding Demand for the Company\u2019s Advanced Passwordless Identity Platform
\n<\/h2>\n
\n

NEW YORK, Dec. 08, 2020 (GLOBE NEWSWIRE) — Beyond Identity<\/u><\/a> today announced a $75 million Series B round, funded by existing investors and bringing total investment in the company to $105 million.\u00a0Investors in the company include New Enterprise Associates<\/u><\/a> (NEA), Jim Clark, and Koch Disruptive Technologies, LLC<\/u><\/a> (KDT). The company will use the proceeds to fuel further innovation of its industry-leading, advanced passwordless identity platform and to build a global footprint, including the acceleration of distribution channels, OEM partners, and international sales and support.<\/p>\n

\n
\n Launched in April 2020<\/u>
\n <\/a> by Silicon Valley icons Jim Clark and Thomas (TJ) Jermoluk, customers have been attracted by the company\u2019s secure, scalable, and frictionless passwordless authentication, but what has really gotten their attention is the platform\u2019s advanced architecture and ability to incorporate granular endpoint security data into a continuous risk policy-based authentication model.\u00a0The company is currently supporting customers whose workforce counts range in size from less than a hundred, to hundreds of thousands of employees and is attracting businesses that are working to deploy its advanced identity platform to tens of millions of their end-user customers.<\/p>\n

\u201cThe past seven months have been a challenging time and have forced organizations to rapidly adjust to supporting fully remote workforces, a change that will be largely permanent,\u201d said Forest Baskett, General Partner at NEA. \u201cThe industry was moving incrementally in the direction of passwordless approaches, but Beyond Identity\u2019s innovation leapfrogged all others with an elegant architecture and powerful solution. As investors, the opportunity to ride that wave with the leadership team they have assembled was simply too hard to ignore.\u201d<\/p>\n

Unlike previously available solutions like two-factor\/multi-factor authentication (2FA\/MFA) or password managers (which attempted to increase security but also greatly increased user friction), Beyond Identity\u2019s advanced passwordless identity platform increases both usability and security, lowering cost and complexity while removing friction for users. The company has continued to rapidly extend its coverage \u2013 expanding its Beyond Identity Authenticator to all major operating systems (macOS, Windows, iOS, and Android).\u00a0The company has streamlined the adoption of passwordless identity management across any business context by offering a completely cloud-native platform, supporting proven industry standards (e.g., OpenID Connect, SAML, TLS, and X.509), and developing formal integration partnerships with single sign-on (SSO) providers, including Ping Identity, Okta, ForgeRock, Microsoft, and others.<\/p>\n

\u201cPasswords are so repeatedly exposed that they have become a commodity for criminals. The result has been an exponential rise in account takeover fraud that is costing companies billions annually,\u201d said TJ Jermoluk, CEO of Beyond Identity. \u201cToo many companies use the phrase \u2018passwordless\u2019 totally wrong. They aren\u2019t actually eliminating the password at all, just applying Band-Aids to existing legacy password systems. Fundamentally strong authentication requires that companies completely eliminate passwords. But that is just the first move, not the end game. Forward-looking companies are adopting continuous authentication, a new model that provides fundamentally strong, risk-based access, significantly reducing exposure to account takeovers and protecting user privacy.\u201d<\/p>\n

\n About Beyond Identity<\/strong>
\n
Headquartered in New York City, Beyond Identity was founded by industry legends Jim Clark and Tom Jermoluk to eliminate passwords and radically change the way the world logs in. Funded by leading investors, including Koch Disruptive Technologies (KDT) and New Enterprise Associates (NEA), Beyond Identity\u2019s mission is to empower the next generation of secure digital business. By replacing passwords with fundamentally secure X.509-based certificates and enabling continuous, risk-based authentication, the company\u2019s patents-pending approach creates an extended Chain of Trust\u2122 that dramatically improves security and provides a frictionless login experience. Beyond Identity\u2019s cloud-native solution and advanced, standards-based architecture drastically reduces implementation time and costs \u2013 enabling customers to increase business velocity, implement new business models, and reduce operating costs. Visit www.beyondidentity.com<\/u><\/a> for more information.<\/p>\n

\n All product and company names herein may be trademarks of their respective owners.<\/em>\n <\/p>\n

\n Contact:<\/strong>
\n
Claire Mutty
CHEN PR for Beyond Identity
cmutty@chenpr.com<\/a>
781-672-3113<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Funds Will be Used to Advance \u201cPasswordless\u201d Into the Era of Continuous Authentication and Meet Exploding Demand for the Company\u2019s Advanced Passwordless Identity Platform NEW YORK, Dec. 08, 2020 (GLOBE NEWSWIRE) — Beyond Identity today announced a $75 million Series B round, funded by existing investors and bringing total investment in the company to $105 million.\u00a0Investors in the company include New Enterprise Associates (NEA), Jim Clark, and Koch Disruptive Technologies, LLC (KDT). The company will use the proceeds to fuel further innovation of its industry-leading, advanced passwordless identity platform and to build a global footprint, including the acceleration of distribution channels, OEM partners, and international sales and support. Launched in April 2020 by Silicon Valley icons Jim Clark and Thomas … <\/p>\n

Continue reading “Beyond Identity Raises $75 Million to Take Customers Beyond Passwordless to the Identity Platform of the Future”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-395126","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nBeyond Identity Raises $75 Million to Take Customers Beyond Passwordless to the Identity Platform of the Future - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/beyond-identity-raises-75-million-to-take-customers-beyond-passwordless-to-the-identity-platform-of-the-future\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Beyond Identity Raises $75 Million to Take Customers Beyond Passwordless to the Identity Platform of the Future - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Funds Will be Used to Advance \u201cPasswordless\u201d Into the Era of Continuous Authentication and Meet Exploding Demand for the Company\u2019s Advanced Passwordless Identity Platform NEW YORK, Dec. 08, 2020 (GLOBE NEWSWIRE) — Beyond Identity today announced a $75 million Series B round, funded by existing investors and bringing total investment in the company to $105 million.\u00a0Investors in the company include New Enterprise Associates (NEA), Jim Clark, and Koch Disruptive Technologies, LLC (KDT). The company will use the proceeds to fuel further innovation of its industry-leading, advanced passwordless identity platform and to build a global footprint, including the acceleration of distribution channels, OEM partners, and international sales and support. 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