Stytch joined the Unicorn Club on November 18, 2021, after raising a $90 million Series B funding round led by Coatue, which valued the company at $1 billion. Headquartered in San Francisco, California, United States, Stytch provides a cloud-based authentication platform offering passwordless solutions, including Magic Links and one-time passcodes. The platform helps developers securely onboard and engage users across various industries, including e-commerce, fintech, healthcare, and Web3. Stytch has raised $146 million to date and employs 28 people (as of December 2021).
Keep reading to learn more about how Stytch is transforming user authentication for modern applications.
What Is Stytch and What Does It Do?
Founded in 2020, Stytch offers a cloud-based authentication platform designed to simplify and enhance the security of user sign-ins. The company focuses on passwordless authentication methods, offering solutions like Magic Links, one-time passcodes, and biometric authentication. These tools enable developers to securely onboard and engage users across a diverse range of industries, including social media, e-commerce, fintech, healthcare, and Web3.
Stytch’s goal is to reduce friction for users while ensuring high security, helping businesses grow their customer base, and improving user experience.
How Much Funding Has Stytch Raised?
- Series B
- Amount Raised: $90M
- Date: November 18, 2021
- Lead Investor: Coatue
- Valuation: $1B
- Purpose: Expand product offerings, scale the platform, and grow the customer base across multiple industries.
Total Funding Raised: $146M
Latest Funding Date: November 18, 2021
Latest Valuation: $1B
Employee Count: 28 (as of December 31, 2021)
Key Investors
- Coatue
- Details: A technology-focused venture capital and private equity firm known for investing in growth-stage companies across various sectors, including cybersecurity and fintech.
- Focus Areas: Cybersecurity, consumer software, fintech, and enterprise technology.
- Thrive Capital
- Details: A venture capital firm that invests in early-stage companies with a focus on consumer and enterprise technology.
- Focus Areas: Cybersecurity, software-as-a-service (SaaS), and digital infrastructure.
Where Is Stytch’s Headquarters?
Stytch is headquartered in San Francisco, California, United States. The company serves developers worldwide, providing scalable, secure, and easy-to-integrate authentication solutions for applications across industries.
What’s Next for Stytch?
Stytch is focused on expanding its suite of passwordless authentication solutions and enhancing platform integrations across multiple industries, including healthcare and Web3. With the backing of leading investors, the company plans to scale its operations, increase product adoption, and further improve user experiences through secure and frictionless sign-ins. Stytch is positioned to become a key player in the future of authentication technologies.
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