With more than 450 customers, FusionAuth will use funding to meet increasing demand for its modern, developer-centric approach to customer identity
DENVER, Nov. 01, 2023 (GLOBE NEWSWIRE) — FusionAuth, the customer identity platform built for developers, today announced the completion of a $65 million growth equity investment from Updata Partners, a leading growth equity firm. With its first fundraise and after widespread developer adoption, FusionAuth will scale go-to-market and product development to meet increasing demand for a modern approach to customer identity. Updata’s Dan Moss, Principal, and Jon Seeber, General Partner, will join the board as part of the round.
Founded in 2018, FusionAuth is profitable and bootstrapped itself prior to this investment. The platform is deployed across six continents with more than 450 customers, including major brands, such as Frontdoor, Oppenheimer & Co. Inc., and Stihl. This funding builds on a strong history of innovation and growth for the company, which has more than doubled revenue each year. With a free community edition that has more than 13 million downloads, FusionAuth enables developers to easily add registration, login, and user management features to their applications, all built on industry standards.
“Authentication is a mission-critical component for most applications, but engineering and product teams can no longer afford to take on the risk and complexity required to build their own solutions,” said FusionAuth founder and CEO Brian Pontarelli. “FusionAuth is transforming customer identity with a feature-rich platform that makes it easy for developers to install and run anywhere then integrate with anything in minutes.”
Developers use FusionAuth for multifactor authentication, passwordless login, passkey support, machine-to-machine authentication, security controls, and advanced threat detection. The company boasts a robust library of APIs, SDKs, and the ability to work with any language or architecture.
FusionAuth is the only authentication solution with complete hosting flexibility. It can be deployed on nearly any computer anywhere in the world. This allows developers to run FusionAuth locally, on virtual/cloud servers, or on dedicated hardware — even without an internet connection — or leverage FusionAuth’s worldwide managed hosting called FusionAuth Cloud.
“At Updata, we are laser-focused on investing in emerging leaders in the software industry,” said Moss. “FusionAuth’s developer-centric approach is redefining the market by removing friction and complexity of customer identity management — historically huge pain points — from the development process. With their impressive footprint and best-in-class feature set, FusionAuth is positioned to continue claiming market share over their competitors, and we look forward to partnering with them in this next phase of growth.”
As part of the round, FusionAuth is expanding its team. The company was named as one of the 2023 Inc. 5000 Fastest Growing Companies in America and listed among the top 2023 Colorado Companies to Watch. It was also named one of Built In’s Best Places to Work in 2023.
FusionAuth is a leading customer identity platform built with a developer-first ethos. With a free community edition that has more than 13 million downloads, FusionAuth empowers engineering and product teams to effortlessly add registration, login, and user management features to their applications, all built on industry standards. It is the only authentication solution with complete hosting flexibility, seamlessly adapting to any architecture, and offering unparalleled versatility, whether on a dev box, cloud server, physical hardware, or even in air-gapped environments. Trusted by known brands, FusionAuth is the go-to choice for developers seeking modern, customer-focused identity solutions. Learn more at fusionauth.io and follow on GitHub, X (formerly Twitter), LinkedIn, and YouTube.
About Updata Partners
Updata Partners is a leading technology-focused growth equity firm in Washington D.C. with over $1.5 billion in committed capital. Led by an investment team averaging more than 25 years of technology experience, Updata invests in high-growth B2B software and software-driven businesses where the combination of capital and operating experience will help accelerate success. For more information, visit updata.com.
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