Investment Startup News

Auth0 becomes Argentina’s fifth unicorn

LatAm ListAuth0, an Argentine startup that provides an Identity-as-a-Service (IDaaS) platform for web, mobile, and legal applications, has achieved a valuation of $1B after closing a $103M round led by Sapphire Ventures.

Since it was founded in 2013, Auth0 has raised a total of $210M. K9 Ventures, Telstra Ventures, Bessemer Venture Partners, Trinity Ventures, Meritech Capital, and World Innovation Lab, also participated  in this recent round.

“Less than a year ago we raised $60M and we had a valuation of $500M, so since then we’ve doubled our value,” said Matías Woloski, Auth0’s CTO and co founder in an interview with La Nacion.

This investment will fund Auth0’s international growth and expansion in its offices in  Bellevue, Buenos Aires, London, Sydney, and Tokyo. Currently, the company employs nearly 475 people and has 7000 corporate clients, which it hopes to double.

“Auth0 has demonstrated incredible momentum and continues to be a shining model for unparalleled technology, leadership, and growth,” said Anders Ranum, Managing Director at Sapphire Ventures. “You can see Auth0’s ethos in the product itself — a highly sophisticated cybersecurity platform that’s universal, scalable, and extensible. The company is changing the approach to business by offering a platform that any company can use to protect digital identities.”

Read more on La Nacion or on Auth0.

Read more about other Argentine unicorns:

MercadoLibre looks to raise $1.85B in equity offerings

OLX Acquires Properati to get into Real Estate Classifieds

Globant acquires Avanxo, strengthening its presence in LatAm

 

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