LoginRadius, a Vancouver, Canada-based provider of a Customer Identity and Access Management (cIAM) platform, raised $17M in Series A funding.
The round was led by ForgePoint Capital and Microsoft’s venture fund, M12, with participation from existing investors Real Ventures, BDC Capital, and Yaletown Venture Partners. In connection with the funding, ForgePoint Capital and M12 will join LoginRadius’ Board of Directors.
The company will use the funds to accelerate product innovation, customer acquisition and global expansion.
Launched in 2012 by Rakesh Soni, CEO, and Deepak Gupta, CTO, LoginRadius provides a cloud-hosted service to securely manage and transact with billions of customer identities while managing privacy and compliance regulations, such as GDPR. The enterprise-grade identity platform is being used by more than 3,000 businesses, including brands such as Weather Network, Vogue, Canadian Broadcasting Corp (CBC), Viacom, Avatar and Kind Snacks, serving more than 700 million identities, while handling 7.5 billion API calls per month.
The platform – built with RESTful APIs and open sourced SDK libraries that allow developers to easily implement authentication, login interfaces and web SSO – has been deployed on new and legacy applications across multiple channels including web, mobile, IoT, POS and kiosks.
The company has support global offices in Vancouver, London, San Francisco, Sydney, and Jaipur, with plans to more than double its workforce in the next 12 months.