PropelAuth raises $2.59M to address the specific authentication requirements of B2B companies
Following their completion of the W22 cohort at Y Combinator, PropelAuth, a remote-based firm that offers end-to-end authentication for B2B companies, has raised a $2.59M seed investment. Tiger Global, 8-Bit Capital, Soma Capital, and Y Combinator participated in the round along with 16 other firms and angel investors.
The company intends to use the additional capital to invest in new product features, recruit more staff, and expand their user base and audience through developer relations. PropelAuth already provides new features, such as adjustable roles, out-of-the-box support for customer organizations, and integrations with the majority of the major web frameworks.
“After speaking with B2B founders, I realized startups today are spending way too much time building auth either from scratch or on top of a service that doesn’t support it,” reports Founder and CEO Andrew Israel, who previously led developer teams at Palantir, SafeGraph, and other early stage startups.
Due to the fact that the majority of current authentication providers exclusively cater to B2C clients, they are unable to adequately address the specific authentication requirements of B2B businesses. PropelAuth has developed self-service UIs that features organizations and groups as a notion, user administration, and libraries in order to address this problem. The platform for PropelAuth allows users to easily add, manage, and view their own customers.
Free till funded
PropelAuth is providing its growth plan for free to early-stage startups to raise $1M in funding as part of its “Free till Funded” initiative to assist them. This open-ended agreement seeks to assist creators in expanding their firm rather than worrying about their authorization or another deadline because it has no predetermined duration or any prohibited features.
“The startup fundraising environment is unpredictable right now, so our Free until Funded plan aims to help startups grow their businesses without adding additional risks or burdens,” added Israel.
Andrew Israel, who has a strong engineering background and has worked at firms like Palantir, SafeGraph, Clockwise, and others, founded PropelAuth in 2021.
The team currently consists of three individuals, and the company is currently looking to fill the positions of Founding Backend Engineer and Head of Developer Relations.
This article originally appeared on TechFundingNews.