The cloud-based cIAM company plans to accelerate product innovation and expand globally to serve the fast-growing $20B customer identity market
VANCOUVER, CANADA — LoginRadius, a leader in Customer Identity and Access Management (cIAM), announced today a $17M Series A Funding led by ForgePoint Capital and Microsoft’s venture fund, M12. All existing major investors also participated, including Real Ventures, BDC Capital, and Yaletown Venture Partners. In connection with the funding, ForgePoint Capital and M12 will join LoginRadius’ Board of Directors. The funds will be used to accelerate product innovation, customer acquisition, and global expansion.
Since its launch in 2012, LoginRadius has been relentlessly focused on customer identity and has experienced triple digit annual growth for the past two years. The company has grown to support global offices in Vancouver, London, San Francisco, Sydney, and Jaipur, with plans to more than double its workforce in the next 12 months.
“With increasing customer experience expectations and growing cybersecurity threats, enterprises need a modern cloud-based identity platform that can be the foundation for digital transformation and provide peace of mind when it comes to security,” said CEO and Co-founder Rakesh Soni. “This funding is a testament of LoginRadius’ ability to deliver on this promise to our customers and sets the foundation for our future growth.”
LoginRadius’ cloud-hosted service provides the platform to securely manage and transact with billions of customer identities while keeping privacy and compliance regulations (such as GDPR) in mind. Leveraging over 200 pre-built integrations, turnkey configuration and cIAM-focused data security and access management functionality, LoginRadius enables businesses to deliver a unified customer registration, login, and self-service experience in months.