Seattle, Washington-based Cloudentity has been acquired by entry administration agency SecureAuth.
Phrases of the deal weren’t disclosed. Cloudentity has raised $13 million in funding.
Cloudentity made its Finovate debut at FinovateFall 2022 in New York.
Entry administration and authentication firm SecureAuth has accomplished its acquisition and integration of Cloudentity. Introduced earlier this yr, SecureAuth’s acquisition of the Seattle, Washington-based firm will assist place the agency as a market chief within the Buyer Id and Entry Administration (CIAM) house.
Cloudentity, which made its Finovate debut in 2022 at FinovateFall, is a specialist in superior SaaS-delivered entry administration know-how. The corporate helps each Nice-Grained Authorization (FGA) and Enterprise-to-Enterprise-to-Client (B2B2C) use circumstances, and in addition supplies assist for superior authorization and consent specs together with Monetary-grade API (FAPI) 2.0, which powers Open Finance communities around the globe.
Integrating Cloudentity’s orchestration and FGA capabilities will complement SecureAuth’s suite of identification safety options reminiscent of its AI/ML Threat Engine and Passwordless MFA applied sciences. The mixed performance will allow companies to improve their buyer experiences with enhanced safety and compliance – with much less friction.
“With the acquisition of Cloudentity, SecureAuth is poised to revolutionize the CIAM market,” SecureAuth Chief Working Officer Kelly Wenzel mentioned. “Cloudentity was constructed from the bottom up as a pure cloud-native deep identification answer that may be carried out on-premise, by way of public cloud or non-public cloud, as a single-tenant or multi-tenant deployment inside hours. This highly effective mixture of deployment flexibility and deep capabilities permits us to serve our prospects in implementing identification safety with out sacrificing buyer expertise.”
As a part of the transaction, Cloudentity CEO Brook Lovatt will be part of SecureAuth as Chief Product Officer. Lovatt mentioned in a press release that the mixed firm will assist drive innovation within the identification safety house. “Collectively, these applied sciences present a complete CIAM answer set with a particularly brief time-to-value that permits organizations to shortly and simply ship distinctive digital experiences, whereas sustaining the best requirements of safety and compliance.”
Cloudentity was based in 2001. Previous to its acquisition, the corporate had raised $13 million in funding. Forgepoint Capital and WestWave Capital are among the many agency’s buyers.
Picture by Amanda Grove
