Beyond Identity Valuation, Funding & Investors

Beyond Identity is valued at $1.1B as of February 2022.

Last Beyond Identity valuation

$1.1B

Series C · Feb 2022

Last Beyond Identity funding round

$100M

Series C · Feb 2022

Cumulative funding Beyond Identity raised

$205M

across 3 funding rounds

Key investors in Beyond Identity

  • New Enterprise Associates
  • Koch Disruptive Technologies
  • James Clark
  • Evolution Equity Partners
  • H. Barton Asset Management
  • Expanding Capital

Beyond Identity Overview

About Beyond Identity

Beyond Identity is a New York-headquartered identity security company replacing passwords with device-bound X.509 certificates for phishing-resistant authentication. Founded in 2019, its cloud platform verifies user identity, device health, and risk signals in real-time for enterprises. Adopted by Fortune 500 firms in finance and healthcare, it integrates with Okta, Ping Identity, and Microsoft Azure for zero-trust access.


Founded

2020

HQ

United StatesNew York City, NY

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$1.1B (Feb 2022)

Beyond Identity Valuation

Beyond Identity is currently valued at $1.1B, based on its Series C in February 2022.

The $100M round was led by Evolution Equity Partners, with participation from Potentum partners, H. Barton Asset Management, Expanding Capital, New Enterprise Associates and James Clark.

Beyond Identity valuation by funding round

Beyond Identity valuation by funding round
DateStageValuation
Feb 2022Series C$1.1B

Beyond Identity Funding History

Beyond Identity has raised a total of $205M across 3 funding rounds.

Beyond Identity's first fundraising round was a $30M Series A in April 2020. The most recent completed round was a $100M Series C in February 2022.

Beyond Identity funding rounds

Beyond Identity funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2022Series CEvolution Equity Partners (lead); Potentum partners; H. Barton Asset Management; Expanding Capital; New Enterprise Associates; James Clark$100M$1.1BBeyond Identity is a cybersecurity company providing invisible, un-phishable multi-factor authentication (MFA) solutions that replace passwords with a zero-trust, passwordless authentication platform to eliminate credential-related risks for enterprises. Founded in 2020 and headquartered in New York, the company focuses on phishing-resistant identity management for customers and employees worldwide. On February 22, 2022, Beyond Identity announced a $100 million Series C funding round led by Evolution Equity Partners, with participation from existing investors New Enterprise Associates (NEA) and Jim Clark, as well as new investors Potentum Partners, Expanding Capital, and H. Barton Asset Management (HBAM). This round brought total funding to $205 million and valued the company at $1.1 billion post-money, achieving unicorn status. Taher Elgamal from Evolution Equity Partners joined the board as part of the deal. The funding is intended to accelerate R&D, expand into Asia-Pacific and Latin America, enhance global operations, and drive channel partner programs with a channel-first go-to-market approach. The company reported strong momentum, including 330% year-over-year ARR growth and 640% customer growth from 2020 to 2021, alongside employing over 180 people, with more than 100 developers. Beyond Identity positions itself to address the root cause of over 80% of breaches—passwords—offering a next-generation solution integrated into zero-trust programs. Prior rounds included a $30 million Series A in April 2020 led by NEA and Koch Industries, and a $75.2 million Series B in December 2020 led by NEA and Koch Disruptive Technologies.
Dec 2020Series BNew Enterprise Associates; James Clark; Koch Disruptive Technologies$75M-Beyond Identity raised $75 million in Series B funding announced on December 8, 2020, led by existing investors New Enterprise Associates (NEA) and Koch Disruptive Technologies (KDT), with participation from founder Jim Clark. This brought total funding to $105 million since the company's launch in April 2020. The company, founded by Silicon Valley veterans Jim Clark and Thomas Jermoluk, developed a passwordless authentication platform that uses advanced architecture to incorporate endpoint security data into continuous risk-based authentication policies. Beyond Identity operates as a cloud-native platform supporting industry standards including OpenID Connect, SAML, TLS, and X.509, with formal integration partnerships established with major SSO providers including Ping Identity, Okta, ForgeRock, and Microsoft. At the time of the Series B announcement, the company was supporting customers ranging from under 100 to hundreds of thousands of employees and was attracting enterprises looking to deploy the platform to tens of millions of end users. The company employed more than 70 people and management indicated the Series B funding would sustain operations until 2023, when Beyond Identity expected to achieve cash-flow-positive status. Between 2020 and 2021, the company's annual recurring revenue grew more than 300 percent while customer count increased 640 percent, demonstrating strong market demand for passwordless authentication solutions.
Apr 2020Series AKoch Disruptive Technologies (lead); New Enterprise Associates (lead)$30M-Beyond Identity is a New York-based cybersecurity startup founded in 2019 by Silicon Valley veterans Jim Clark and Tom Jermoluk, offering a cloud-based passwordless authentication platform that eliminates credential risks through phishing-resistant, zero-trust identity management for enterprises. The platform incorporates granular endpoint security data into continuous risk policy-based authentication, supporting customers from small workforces to hundreds of thousands of employees and businesses deploying to tens of millions of end-users. It includes products like Secure Customers, Secure DevOps, and Secure Work, with integrations across MDM, EDR, SIEM, and code repositories. In April 2020, Beyond Identity raised $30 million in a Series A round led by New Enterprise Associates and Koch Disruptive Technologies (via Koch Industries) to develop its passwordless authentication platform foundation. This was followed by a $75.2 million Series B in December 2020, also led by NEA and Koch Disruptive Technologies, bringing total funding to $105 million and aimed at accelerating product development, go-to-market initiatives, distribution channels, OEM partners, and international sales. Key investors across rounds include Evolution Equity Partners, Jim Clark, Potentum Partners, Expanding Capital, and HBAM. The company achieved a $100 million Series C in February 2022 led by Evolution Equity Partners, reaching $205 million total funding and a $1.1 billion valuation, with funds directed toward R&D expansion, global footprint in Asia-Pacific and Latin America, and board addition of Taher Elgamal. Traction included 330% ARR growth and 640% customer growth from 2020 to 2021, expanding to over 180 employees across North America and EMEA, with a strong engineering team of over 100 developers.

Who has invested in Beyond Identity?

7 investors have backed Beyond Identity across its funding rounds, including New Enterprise Associates, Koch Disruptive Technologies, James Clark, Evolution Equity Partners, H. Barton Asset Management and Expanding Capital.

Lead investors include Evolution Equity Partners, Koch Disruptive Technologies and New Enterprise Associates.


Beyond Identity Investors

Investors in Beyond Identity by funding rounds participated
InvestorHQRoundsRoleFirst check
New Enterprise AssociatesUnited StatesSan Francisco, CA3LeadApr 2020
James ClarkUnited StatesAustin, TX2ParticipantDec 2020
Koch Disruptive TechnologiesUnited StatesWichita, KS2LeadApr 2020
Potentum partnersAustraliaMelbourne1ParticipantFeb 2022
Evolution Equity PartnersUnited StatesNew York City, NY1LeadFeb 2022

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Beyond Identity Competitors

Beyond Identity competitors include listed companies like Appier Group and Rackspace, and private ones like Obsidian Security, Vectra AI, TENEX.AI and Avathon.

Public and private companies comparable to Beyond Identity
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Obsidian SecurityUnited StatesLos Angeles, CAPrivate--$1.1B-
Vectra AIUnited StatesSan Jose, CAPrivate--$1.2B-
TENEX.AIUnited StatesSarasota, FLPrivate$43M-$1B23.3x
AvathonUnited StatesSan Francisco, CAPrivate--$1.4B-
Appier GroupJapanJapanPublicly listed$281M$44M$1B2.9x
RackspaceUnited StatesUnited StatesPublicly listed$2.7B$244M$997M1.6x

Beyond Identity Public Comps

Beyond Identity is still privately-owned, but its public comps include Appier Group, Rackspace, Eastcompeace Tech, Red Violet, NSFOCUS, Rezolve AI, Radware, BeiJing Certificate, Beijing CTJ Info Tech and Fractal Analytics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Appier Group$281M$44M3.4x2.9x21.6x15.7x
Rackspace$2.7B$244M1.5x1.6x17.1x15.0x
Eastcompeace Tech$197M$26M4.8x-36.4x-
Red Violet$90M$24M13.2x11.7x50.0x31.7x
NSFOCUS$379M$37M2.6x2.4x26.1x25.6x
Rezolve AI$47M($109M)23.3x4.0x(10.0x)(19.3x)
Radware$302M$20M3.6x3.4x56.1x23.2x
BeiJing Certificate$125M($12M)6.7x-(70.9x)-

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Common questions about Beyond Identity

When was Beyond Identity founded?Beyond Identity was founded in 2020.
Where is Beyond Identity headquartered?Beyond Identity is headquartered in New York City, NY, United States.
Is Beyond Identity publicly listed?No, Beyond Identity is a private, VC-backed company.
What is Beyond Identity's valuation?Beyond Identity was last valued at $1.1B in its Series C in February 2022.
How much funding has Beyond Identity raised?Beyond Identity has raised $205M across 3 funding rounds.
What was Beyond Identity's last funding round?Beyond Identity's last funding round was a $100M Series C in February 2022, led by Evolution Equity Partners.
Who are Beyond Identity's investors?Beyond Identity's investors include New Enterprise Associates, James Clark, Koch Disruptive Technologies, Potentum partners, Evolution Equity Partners, H. Barton Asset Management and Expanding Capital.
Which companies are comparable to Beyond Identity?Companies comparable to Beyond Identity include Obsidian Security, Vectra AI, TENEX.AI, Avathon, Appier Group and Rackspace.

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