Samreen Ahmad · · 1 min readTiger Global leads $23m round of identity authentication startup
Identity cloud platform Authing has raised US$23 million in a series A round led by Tiger Global Management. CDH Investments VGC, Agora, and existing backers GGV Capital and MiraclePlus also participated.
Photo credit: Pixabay
The Beijing-based startup will use the new funds for research and development, talent attraction, and market expansion, aiming to improve its product matrix and accelerate the commercialization process of its services.
Authing provides applications with authentication, authorization, user management, and security risk control services through identity-as-a-service (IDaaS) cloud computing.
With cloud adoption increasing around the globe, the company said that the IDaaS cloud computing industry is seeing a recent boom. The global market was valued at US$3.4 billion in 2020.
See also: Quantum computing, without quantum computers
Authing has also built a partner network by integrating nearly 100 applications that cover a range of enterprise services in collaborative office, cloud computing, marketing, management, development tools, human resources, and other fields.
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
