The New York-based multi-factor authentication startup intends to establish a footprint in Japan, South Korea, Australia, Brazil, Argentina, and Mexico over 2023 and have both Asia-Pacific and Latin America contribute meaningful revenue in 2023. The USD 100 million round was led by Evolution Equity Partners and helped Beyond Identity achieve a USD 1.1 billion valuation.
Representatives expect to take Beyond Identity public in 2024 or 2025 assuming the company can deliver sustained annual revenue growth of more than 100% and demonstrate a path to profitability starting with positive cash flow. To do that, Jermoluk said Beyond Identity is focused on building out its go-to-market efforts today so that the firm has a global presence and revenue traction by 2024.
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