A Major Milestone: SheerID Raises $18 million to Fuel Continued Growth
Today marks a huge milestone for our team here at SheerID; One we’re incredibly proud, excited, and humbled to share. Today, we formally announced that we have raised $18 million to continue to fuel our company’s growth. We’ve added new strategic partners to our already incredible support system, including Centana Growth Partners, who led this round. Centana will join our existing investor, Voyager Capital, on our board. Arnold Venture Group also supported this round of funding.
“Our investment in SheerID falls squarely into Centana’s authentication and identity expertise, and we’re excited to work with a team whose experience, knowledge, and customer relationships give it an incredible competitive edge in today’s market,” said Eric Byunn, Partner at Centana Growth Partners. “The company’s impressive growth trajectory and comprehensive platform capabilities, coupled with the size of the market, make it an investment we look forward to seeing reach its full potential.”
This funding will allow us to to continue to capitalize on the recent momentum we’ve had, and shared with you all in our most recent blog post looking at 2017. By the end of last year, we experienced a 112% year over year growth, while adding wonderful clients such as Lowe’s, Target, Microsoft, Adobe, and Sprint to our family, alongside existing SheerID customers such as Spotify, Foot Locker, Costco, and Amazon. Centana’s focus on financial services will help us continue to penetrate additional market segments.
Our CEO, Jake Weatherly, is beyond thrilled for the SheerID team, and the future of this company. “We’re so proud of how far we’ve come, and even more proud of the happy clients who continue to renew and expand their use of our platform. Our solution specifically addresses the challenges many enterprises face when establishing trust with their customers, and this funding will accelerate both the capabilities of our platform, as well as support the growth of our incredible team to continue addressing our clients’ needs. We appreciate the support from all of our investors and board members who share our vision of redefining how enterprises create trust in a changing, highly digitalized world.”
We can’t wait for what’s in store in 2018, and hope you’ll continue to root for this once small company that is taking on the digital identity world one verification at a time.