Security News > 2020 > December > Beyond Identity Raises $75 Million to Expand Passwordless Identity Platform
Beyond Identity, a security startup on a quest to eliminate passwords, today announced a $75 million Series B funding round, bringing the total investment in the company to $105 million.
Launched in April by internet icons Jim Clark and Tom Jermoluk, Beyond Identity has launched a certificate-based authentication and authorization solution that eliminates the need for passwords.
The company provides passwordless authentication through its Beyond Identity Authenticator, which supports all major operating systems, and a cloud-native platform that supports industry standards.
The platform integrates with existing SSO implementations, as a delegate identity provider, to protect companies' existing investments - such as Okta, Ping, ForgeRock and Microsoft.
"Passwords are so repeatedly exposed that they have become a commodity for criminals. The result has been an exponential rise in account takeover fraud that is costing companies billions annually." said Beyond Identity CEO, TJ Jermoluk.