Descope Raises $53 Million in Seed Round  

by Kay Aloha Villamor in February 16th, 2023

Descope, a Los Alto, CA-based company that provides passwordless authentication technology, announced that it raised $53 million in seed funding and emerged from stealth to launch a frictionless, secure, and developer-friendly authentication and user management platform.

The round was led by Lightspeed Venture Partners and GGV Capital, with participation from Unusual Ventures, Dell Technologies Capital, Cerca Partners, Tech Aviv, J Ventures, and Silicon Valley CISO Investments (SVCI).

Individual investors also participated in the round, including CrowdStrike CEO George Kurtz, Bipul Sinha, and Assaf Rappaport.

Slavik Markovich, co-founder, and CEO of Descope said, "What my founding team and I have learned from years of experience is that authentication is never finished for any application. We have built authentication and user management in-house for both business and consumer apps in our past lives. Every time, what started out as a sprint line item turned into a multi-year investment, taking our focus away from what we were meant to do. Our vision is to "de-scope" authentication from every app developer’s daily work, so they can focus on business-critical initiatives without worrying about building, maintaining, or updating authentication."

Descope’s authentication and user management platform aims to make building passwordless authentication easy and intuitive. It enables developers to add authentication, user management, and authorization capabilities to consumer and business applications with a few lines of code.

The company’s platform is now available for both B2C and B2B applications. Developers can use the platform without charge for up to 7500 monthly active users for B2C apps and up to 50 tenants for B2B apps.

Company: Descope, Inc.

Raised: $53.0M

Round: Seed Round

Funding Month: February 2023

Lead Investors: Lightspeed Venture Partners and GGV Capital

Additional Investors: Unusual Ventures, Dell Technologies Capital, Cerca Partners, Tech Aviv, J Ventures, and Silicon Valley CISO Investments (SVCI)

Company Website: https://www.descope.com/

Software Category: Authentication and User Management

About the Company: Founded in 2022 by Slavik Markovich, Dan Sarel, Rishi Bhargava, and Guy Rinat, Descope is an authentication and user management platform for application developers. It offers different integration flavors based on developer preferences from no code/low code to well-documented SDKs and APIs—to make it easier to deploy, maintain, and update user journeys across the application lifecycle. Descope helps every developer build secure, frictionless authentication and user journeys for any application. Its no-code workflow builder, SDKs, and APIs enable developers to easily add passwordless authentication, user management, and authorization capabilities to their apps. Descope also protects against account takeover fraud and session theft by identifying risky user signals to enact step-up authentication. The company is headquartered in Los Altos, CA, and is a member of the FIDO Alliance.


Source: https://www.descope.com/press-release/seed-funding




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