FusionAuth Secures $65 Million in Funding

by Kay Aloha Villamor in November 2nd, 2023

FusionAuth, a Denver, CO-based customer identity platform designed for developers, has secured $65 million in a growth equity investment.

SaaS Investors

The investment was from Updata Partners.

Updata Partners is a technology-focused growth equity firm in Washington D.C. with over $1.5 billion in committed capital. Updata invests in high-growth B2B software and software-driven businesses where the combination of capital and operating experience will help accelerate success.

FusionAuth Use of Funds

The company aims to use the funds to expand its go-to-market strategy and further develop its product.

About FusionAuth

Founded in 2018, FusionAuth is a customer identity platform built with a developer-first ethos. The platform enables developers to add registration, login, and user management features to their applications easily. It includes features such as multifactor authentication, passwordless login, security controls, and advanced threat detection. FusionAuth can be deployed on nearly any computer, giving developers hosting flexibility. The platform is used by more than 450 customers across six continents, including major brands, such as Frontdoor, Oppenheimer & Co. Inc., and Stihl. 

Funding Details

Company: Inversoft Inc.

Raised: $65.0M

Round: Growth Equity

Funding Month: November 2023

Lead Investors: Updata Partners

Additional Investors: 

Company Website: https://fusionauth.io/

Software Category: Identity and Access Management Software

Source: https://www.globenewswire.com/news-release/2023/11/01/2771256/0/en/FusionAuth-Secures-65-Million-Growth-Equity-Investment-from-Updata-Partners.html

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