Authentication and user management startup Descope emerged from stealth with a $53M seed funding.
Descope intends to expand the product's scope and boost R&D with fresh funding.
- The California-based startup provides a no-code drag-and-drop workflow for incorporating user access controls, single sign-on, and passwordless authentication tools in B2B and B2C applications.
- Descope was founded by the former core team of cybersecurity startup Demisto, which was acquired by Palo Alto Networks for $560M in 2019.
- Lightspeed Venture Partners and GGV Capital led the funding round with participation from Unusual Ventures, Dell Technologies Capital, Cerca Partners, J Ventures, and others.
- Per Markets & Markets, the passwordless authentication market is forecasted to grow from $6.6B in 2021 to $21.2B in 2027.
- Descope's competitors include Stytch and Auth0.
