US-based user authentication technology developer Auth0 completed a $120m series F round yesterday led by Salesforce Ventures, the corporate venturing unit for enterprise software producer Salesforce, at a $1.92bn valuation.
DTCP and Telstra Ventures also took part in the round, on behalf of telecommunications firms Deutsche Telekom and Telstra, alongside Bessemer Venture Partners (BVP), Sapphire Ventures, Meritech Capital, World Innovation Lab, Trinity Ventures and K9 Ventures.
Founded in 2013, Auth0 has created identity management software that authenticates, authorises and secures access to devices and applications, processing more than 4.5 billion logins per month.
The series F funding has been allocated to continued product development and market expansion efforts that will be supported by tapping into DTCP’s European and global networks. The company has now raised more than $333m in funding in total.
Sapphire Ventures, BVP, Trinity Ventures, Meritech Capital, K9 Ventures and World Innovation Lab had provided $103m in series E funding at a $1bn valuation in May 2019, the same investors having supplied $55m in a mid-2018 series D round.
Auth0 secured $30m in a 2017 series C round led by Meritech and backed by NTT Docomo Ventures, the corporate venturing arm of mobile network operator NTT Docomo, as well as existing investors BVP, Trinity Ventures and K9 Ventures. Its other backers include Silicon Valley Bank, Portland Seed Fund and NXTP Labs.
