Beyond Identity, a NYC-based passwordless identity management company, raised $30m in Series A funding.
The round was co-led by Koch Disruptive Technologies and New Enterprise Associates. The company intends to use the funds to expand operations and its business reach.
Co-founded by Jim Clark and Tom Jermoluk, Beyond Identity provides a cloud-native passwordless identity management platform that leverages existing secure communications infrastructure and crypto standards to extend the trust boundary beyond server-to-server communications to include users and their devices. By doing so, it removes the need for “shared secret” password-based authentication approaches, and dependence on friction-laden compensating controls. Initially targeted at businesses with a need to improve workforce and customer authentication and eliminate the risk of central password databases, the company will also target individual consumers who don’t want to use passwords and don’t trust the “login with” solutions offered by companies who monetize user data.
Beyond Identity’s board of directors will expand from Clark (Chairman) and TJ (CEO) to include:
- Forest Baskett (General Partner at NEA)
- Byron Knight (Managing Director at KDT)
- Hilarie Koplow-McAdams, who served as President at New Relic as well as at Salesforce.