- The business will increase its investment in product development, speed up its go-to-market plans, and maintain its commitment to providing top-notch customer service with the help of the new funding.
- Over the course of the following year, the company plans to increase its 40-person workforce to 70 employees using the new funding.
A new USD 20 million round of funding has been secured by Strivacity Inc., a startup that aids in managing application login and signup requests for developers.
The investment was described as a Series A2 funding round when it was announced recently. Ten Eleven Ventures joined the round, which SignalFire led. Jack Huffard, a founding member of the cybersecurity firm Tenable Holdings Inc. and Mandiant CEO Kevin Mandia, also made contributions.
Developers can easily add a user account creation form to their applications using the platform that Strivacity offers. Usually, a sizable amount of custom code is needed to complete the task. The startup claims that its platform’s templates and other features speed up the process and lessen the need for manual programming.
Application developers must build a database to store user account information in addition to creating a signup form for customers. That task will also be made easier, according to Strivacity. It offers features for self-service password resets and tools that developers can use to manage user account data.
The platform has the ability to handle login requests in addition to user signups. According to the startup, developers can implement password-based and passwordless login features in applications using its platform. Additionally, it supports single sign-on, a technology that enables employees to sign into several corporate applications simultaneously.
Strivacity has developed a security engine with artificial intelligence to thwart hacking attempts. The engine creates a diagram of how a user typically interacts with an application and spots access requests that don’t fit the pattern. An account may require the user to log in again if it is accessed via an insecure network or at an odd time of day.
Chief Executive Officer and Co-founder Keith Graham said, “We believe simple sign-in journeys are the modern digital doorway to grow customer relationships. That’s why we built Strivacity. We’re 100% focused on creating surprisingly simple customer sign-in journeys, and this new investment will accelerate our strategy and the opportunity ahead of us.”
Over the course of the following year, the company plans to increase its 40-person workforce to 70 employees using the new funding. The new hires will hasten feature development and aid in the company’s go-to-market expansion.
A few months before Strivacity’s funding round, another startup to simplify application access management, Strata Identity Inc., raised USD 26 million. To handle sign-in requests, many applications employ a class of software known as an identity and access management, or IAM system. A platform provided by Strata makes migrating applications from antiquated IAM systems to more modern cloud-based substitutes simpler.