DENVER, CO – We are pleased to announce that Updata Partners VII has completed its latest investment, leading a $65 million round into Broomfield, CO-based FusionAuth. The company provides a customer identity and access management (“CIAM”) platform purpose built for software developers.
Secure, seamless login experiences are a foundational capability for customer-facing applications, but implementing these solutions is distracting and non-core for developers. FusionAuth provides a configurable, intuitive platform that allows developers to add best-of-breed login functionality to their applications including multi-factor authentication, passwordless login, passkey support, machine-to-machine authentication, security controls, and advanced threat detection. The platform boasts a robust library of APIs and SDKs, works with any language or architecture, and is the only authentication solution to offer complete hosting flexibility.
FusionAuth’s capital efficient growth and impressive unit economics reflect the traits we seek in investment targets. Bootstrapped prior to Updata’s investment, the Company is profitable and has more than doubled revenue each year while amassing over 450 customers across six continents. Following the raise, FusionAuth plans to hire across departments with a focus on expanding the Company’s executive leadership, geographic footprint, and go-to-market model.
Updata will be represented on FusionAuth’s board by Principal Dan Moss and General Partner Jon Seeber. We look forward to supporting the Company’s continued success.
The Company’s press release can be found here.