Highlights:
- FusionAuth strives to assist developers in addressing user security concerns without diverting their attention from their core application development.
- FusionAuth offers robust security features, including detecting anomalous logins, blocking compromised accounts, and enabling federated logins.
FusionAuth, a customer identity and access management platform that caters to developers, announced that it has successfully closed a substantial USD 65 million investment from Updata Partners.
This round represents FusionAuth’s—officially known as Inversoft Inc.—first external capital raise. The business stated that it would expand its go-to-market teams and quicken product development with the help of the funding.
FusionAuth seeks to assist developers in addressing user security concerns without interfering with their work on the main application. It has done this by developing a customer identity and access management platform, which makes it simpler for developers to approve, control, and authenticate user access to their apps. Administrators can designate roles for team members and safeguard logins using single sign-on methods for desktop, mobile, and web devices.
According to the company, developers can integrate passkey support, advanced threat detection, multifactor authentication, passwordless login, and machine-to-machine authentication using FusionAuth. Developers can use any popular programming language to work with these capabilities, which are accessible through a library of application programming interfaces and software development kits.
The security features of FusionAuth’s platform also allow administrators to identify unusual login patterns, block user accounts after an attack, and grant access to apps via federated logins. Administrators can use these tools to safeguard and manage application data and maintain its compliance.
The community edition of FusionAuth is completely free for users and, according to the company, has been downloaded over 13 million times. Additionally, the company provides paid subscription options for customers seeking access to premium features and support.
The company asserts that it has already made a profit despite never seeking funding before the most recent round. Founded in 2018, the company boasts over 450 enterprise clients spread across six continents, including Oppenheimer and Co. Inc., Consumer Direct, Frontdoor Inc., and Stihl Inc.
According to Brian Pontarelli, Founder and CEO of FusionAuth, authentication is a crucial element for most applications. Given its significance, developers and product teams find it a major distraction source, particularly since many lack security expertise. He said, “Product teams can no longer afford to take on the risk and complexity of building their own solutions.”
FusionAuth offers users complete hosting flexibility and easily integrates with any application via an API. According to the company, the software can be installed on any server or computer. Put differently, developers have multiple options for running it: locally, on dedicated hardware, on virtual or cloud servers, or through FusionAuth Cloud, the company’s in-house managed hosting environment.
Updata Principal Dan Moss said FusionAuth’s developer-centric philosophy drew him in. He said, “It is removing the friction and complexity of customer identity management, which are historically huge pain points, from the development process.”