Beyond Identity Raises $200 Million at $1.1 Billion Valuation

Beyond Identity is a solution provider for digital businesses to help keep the security. The company’s mission is to replace passwords with passwordless identity management solutions. It enables clients to implement new business models, reduce costs, and increase business velocity.

The funding round Series C was led by Evolution Equity Partners. Such existing investors as New Enterprise Associates (NEA) and Jim Clark also took part in the round. Among other participants were Potentum Partners, Expanding Capital, and HBAM. A new funding round helps Beyond Identity achieve the unicorn status.

Beyond Identity, New York, was founded by James Clark, Thomas Jermoluk in 2020. “Password managers, fishable MFA, and outdated VPN technologies are not the answer and will not close the wide-open door that criminals waltz through every day” Thomas Jermoluk, Co-founder and CEO. The Beyond Identity system applies X.509 certificates and proven key technology to remove passwords from the account recovery process and authentication. Instead of it, the system allows only authorized devices and authorized users to get access. Now, the company plans to continue investments in R&D, as well as expand into Latin America and Asia-Pacific Region.

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