PropelAuth raises USD 2.59 mln seed investment

Thursday 28 July 2022 13:35 CET | News

PropelAuth, a US-based firm that offers end-to-end authentication for B2B companies, has raised a USD 2.59 million seed investment.

Tiger Global, 8-Bit Capital, Soma Capital, and Y Combinator participated in the round along with 16 other firms and angel investors.

The company intends to use the additional capital to invest in new product features, recruit more staff, and expand their user base and audience through developer relations. PropelAuth already provides new features, such as adjustable roles, out-of-the-box support for customer organisations, and integrations with the majority of the major web frameworks.

Due to the fact that the majority of current authentication providers exclusively cater to B2C clients, they are unable to adequately address the specific authentication requirements of B2B businesses. PropelAuth has developed self-service UIs that features organisations and groups as a notion, user administration, and libraries in order to address this problem. The platform for PropelAuth allows users to add, manage, and view their own customers.

PropelAuth is providing its growth plan for free to early-stage startups to raise USD 1 million in funding as part of its ‘Free till Funded’ initiative to assist them. This open-ended agreement seeks to assist creators in expanding their firm rather than worrying about their authorisation or another deadline because it has no predetermined duration or any prohibited features.

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Keywords: funding, online authentication, investment, startup, B2B payments
Categories: Fraud & Financial Crime
Companies: PropelAuth
Countries: World
This article is part of category

Fraud & Financial Crime


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