LoginRadius raises $17 mln from ForgePoint, Microsoft's M12

Customer identity and access management (cIAM) firm LoginRadius today said it has raised USD 17 million in Series-A funding round led by ForgePoint Capital and Microsoft's venture fund M12.

All existing major investors, including Real Ventures, BDC Capital and Yaletown Venture Partners, also participated in the funding round, a statement said.

ForgePoint Capital and M12 will join LoginRadius' board of directors, it added.

The funds will be used to accelerate product innovation, customer acquisition, and global expansion.

Rakesh Soni, chief executive officer and co-founder, LoginRadius, said, "With increasing customer experience expectations and growing cybersecurity threats, enterprises need a modern cloud-based identity platform that can be the foundation for digital transformation and provide peace of mind when it comes to security."