Venture Capital Access Online | The eMarketplace for the Venture Capital Industry

 

Home

Marketplace
Database
News
Store
Resources
Contact Us

 

 

News


VENTURE CAPITAL DIRECTORY | PRIVATE EQUITY DIRECTORY

List of Venture Capital / Private Equity Firms and Sources
Published since 1998, VCPro Database is the most reliable, up-to-date and affordable venture capital directory

2021 EDITION SPECIAL OFFER!
Buy Now for only $119.95 plus a FREE update in January 2022

Learn More or Buy Now

VCPro Database 2021 24th Edition -- a downloadable and searchable venture capital database with 6,500+ venture capital and private equity firms worldwide. The most reliable, up-to-date and affordable venture capital directory of its kind. VCPro Database is available in both Windows and macOS versions. It has been published since 1998. (Updated JULY 2021)

Learn More » or Buy Now »




Stytch Closes $90 Million in Series B Funding with $1 Billion Valuation

Coatue Leads Round for Unicorn Passwordless Authentication Company

SAN FRANCISCO, November 18, 2021-- Stytch, a company dedicated to improving security and user experience with passwordless authentication, today announced that it has raised a $90 million Series B round of funding valuing the company at $1 billion. The round was led by Coatue Management LLC, with participation from existing investors Benchmark Capital, Thrive Capital, and Index Ventures.

Stytch will use the funding to continue to build tools and infrastructure that make it easier and faster to build authentication into apps and websites. As part of the funding, Stytch also today announced its acquisition of Cotter, a leading no-code passwordless authentication platform backed by YC. The acquisition will combine the two companies’ technologies, bringing Stytch’s vision of a passwordless world to life faster by making it even easier for developers and companies to adopt passwordless technologies.

“Today, more than 3,500 developers are building on the Stytch platform adding email magic links, SMS and WhatsApp passcodes, OAuth connections, one-click user invitations, and embeddable magic links into user onboarding and login flows,” said Reed McGinley-Stempel, co-founder and CEO of Stytch. “With every new tool we add to our platform, we are continuing to improve the user onboarding experience, while enhancing security and saving significant engineering time in the process.”

When McGinley-Stempel and Co-Founder and CTO Julianna Lamb were both at Plaid, they witnessed the shortcomings of passwords first-hand, both from a security and usability perspective. They set out to make the authentication process easier, without leaving users vulnerable to account takeover attacks. They founded Stytch to solve the problem.

“As we know, passwords cause headaches for users and companies because people don’t like to spend the time to reset passwords. As a result, they can pose a security threat to users and deter conversions and customer retention,” said Lucas Swisher, a General Partner at Coatue Management. “We believe the world of online identity is undergoing a sea change and are impressed with Stytch’s API-driven approach to blending authentication into product experiences. We are excited to partner with Stytch as they pioneer us toward a passwordless future.”

About Stytch

Stytch is building a developer platform with the tools and infrastructure to enable companies to incorporate passwordless authentication options into apps and websites. Their APIs and SDKs can improve user onboarding and retention by removing passwords from their applications and replacing them with more secure and low-friction authentication options including email magic links, one-click user invitations, biometrics, and SMS and WhatsApp passcodes. The company is headquartered in San Francisco and is backed by Benchmark, Coatue, Index Ventures and Thrive Capital. For more information, visit https://stytch.com/.

Contact:
On behalf of Stytch
David Templeton
dbtcom@gmail.com
(203) 530-0458

Marie Domingo
marie@mariedomingo.com
(650) 888-5642


News Index

Venture Capital Database 

 

 NEWS

Latest VC News
VC News Archive
News Search
RSS News Feed

List Your Firm

Entrepreneurs
Investors
Advisors

Venture Capital Database

VCPro Database
Download Trial
Buy Now

Business Plan Tools

Free Business Plan Template

 

Copyright © 1998-2021 Access InterComm  All rights reserved. 
Site Map | Privacy Statement | Legal Notice & Disclaimer