Israel’s Tel Aviv, July 28, 2022, Stripes and significant international software investor Insight Partners announced a USD 40 million round B fundraising for Frontegg, the top user management platform for B2B apps. This takes the total amount raised from prestigious VCs, such as Pitango First, Global Founders Capital, and i3 Equity, to USD 70M. It follows the USD 25M Series A raised in December last year.
Frontegg will utilize the financing to grow its R&D and go-to-market teams in Tel Aviv and the San Francisco Bay Area, as well as to invest in infrastructure and extend its product offerings.
Sagi Rodin, CEO and Co-founder of Frontegg:
“Customers today want complete user management capabilities from commercial apps, which presents a problem for development teams. Modern authentication techniques are expected by users of business apps today, along with the ability to invite team members, manage their roles, set up organization-wide security procedures, and increase subscription tiers. The intricacy, sensitivity, and scope of these capabilities make it exceedingly resource-intensive to build them internally. Because they solely address authentication and are designed to manage individuals rather than teams and organizations, existing user management systems only provide partial answers.”
Aviad Mizrachi, CTO and co-founder at Frontegg:
“Due to previous outages, several customers switched from legacy solutions to Frontegg, which offers always-on key infrastructure designed for scale resilience. Downtime is unacceptable for capabilities that are at the core of an application. We take the responsibility of creating vital infrastructure extremely seriously, and this investment will enable us to keep offering a service that our clients can depend on with confidence.”
Saagar Kulkarni, partner at Stripes:
“The degree to which Frontegg’s customers adore their product astounded us. The strain on development teams to create and sustain world-class user management is getting heavier and heavier. In these uncertain economic times, it is more crucial than ever for B2B SaaS enterprises to launch their products quickly while yet having them meet the standards set by today’s users for business solutions. Frontegg offers a superb user management experience right out of the box so SaaS enterprises may easily release successful solutions.”
More about the company:
For B2B SaaS applications, Frontegg offers a powerful user management platform that supports the entire user journey, from signup to subscription. The scalable solution is simple to include in any product, allowing development teams to concentrate on creating their core offering. At the same time, Frontegg takes care of the labor-intensive go-to-market tasks.
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