You are here: Home » PTI Stories » National » News
Business Standard

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

Business Finance

Press Trust of India  |  Mumbai 

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."

Since its launch in 2012, LoginRadius has been focused on customer identity and claims to post triple-digit annual growth for the past two years.

The company has grown to support global offices in Vancouver, London, San Francisco, Sydney and Jaipur, the release said, adding it plans to more than double its workforce in the next 12 months.

LoginRadius' cloud-hosted service provides the platform to securely manage and transact with billions of customer identities while keeping privacy and compliance regulations (such as GDPR) in mind.

The platform is serving over 700 million identities and handling 7.5 billion API calls per month.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, July 25 2018. 17:10 IST