California-based user management and authentication startup Descope secured $53M in seed funding led by Lightspeed Ventures and GGV Capital.
Incoming funds will be used to accelerate product development and back R&D efforts.
- Descope provides a drag-and-drop platform to add authentication, user management, and authorization capabilities, such as passwordless login, single sign-on, password management, and permission management, for B2C and B2B applications.
- Security operations platform Demisto's core team established Descope in April 2022.
- Palo Alto Networks acquired Demisto in 2019.
- Dell Technologies, TechAviv, Cerca, J Ventures, and Silicon Valley CISO Investments participated in the fundraiser.
- VCs invested $3.2B into identity management startups in 2021.
