Stytch Raises $30M in Series A Funding
- Stytch, a San Francisco, CA-based passwordless authentication company, raised $30m in Series A funding
- The round was led by Thrive Capital with participation from Coatue Management and existing investors Benchmark and Index Ventures
- In conjunction with the funding, Thrive Capital’s Gaurav Ahuja will join Benchmark’s Chetan Puttagunta on company’s board of directors
- The company intends to use the funds to roll out more authentication options
- The company is building a developer platform with the tools and infrastructure to enable companies to incorporate passwordless authentication options into apps and websites
- The company’s developer experience and flexible API-first approach have attracted more than 350 companies of all sizes and a handful of Fortune 500 firms
