Herndon, Va. April 4, 2023 – Strivacity ®, the company making customer sign-in experiences unexpectedly simple and secure, today announced $20 million in new funding. SignalFire, based in San Francisco, led the Series A2 investment with additional participation from Ten Eleven Ventures. Other investors include Kevin Mandia, CEO of Mandiant and Jack Huffard, co-founder of Tenable, who will join Strivacity as Executive Chairman.
“The online experience is increasingly the primary customer experience. Customers expect the sign-up and sign-in processes to be simple, yet secure. Once logged in, they expect an experience that’s personalized to them. When it’s not, they leave and go to competitors,” said Chris Scoggins, partner at SignalFire. “Strivacity’s platform sits at the intersection of cybersecurity, privacy and customer identity. This creates a unique opportunity to craft better customer experiences, which increase customer engagement, grow conversion rates and ultimately drive more online revenue.”
Strivacity is a cloud-native customer identity and access management (CIAM) vendor for the Fortune 1000 that creates simple, speedy and secure sign-in journeys. This enables customers to engage sooner and allows companies to convert more customer visits into revenue.
The company was recently named a leader by Forrester Research, Inc., in The Forrester Wave™: Customer Identity and Access Management, Q4 2022. Strivacity’s comprehensive product vision and execution earned the highest possible scores across 13 of Forrester’s criteria.
“We started Strivacity because we saw a familiar and frustrating story replaying itself over and over at Fortune 1000 companies. Workforce-centric identity solution providers were force-fitting their products to serve customer use cases. The results were invariably months-long rollouts that ended with organizations settling for poor customer experiences and writing big checks for after-market services,” said Keith Graham, Strivacity co-founder and CEO. “We believe simple sign-in journeys are the modern digital doorway to grow customer relationships. That’s why we built Strivacity. We’re 100 percent focused on creating surprisingly simple customer sign-in journeys and this new investment will accelerate our strategy and the opportunity ahead of us.”
Along with the investment, which is part of SignalFire’s Executive-In-Residence (XIR) program, Chris Scoggins, partner at SignalFire, and Jack Huffard, co-founder of Tenable (Nasdaq: TENB) and Signalfire XIR, will join Strivacity’s board of directors. They join existing board members Kevin Mandia, CEO of Mandiant; Todd Weber, operating partner and CTO at Ten Eleven Ventures; and Strivacity co-founders Keith Graham and Stephen Cox.
Strivacity will use the new funding to grow its investment in product development, accelerate its go-to-market initiatives and continue to deliver high-quality service to its customers.
The new investment brings Strivacity’s total funding to $28 million.
SignalFire is the first venture capital firm built like a technology company to better solve for the needs of founders. The core of its value-add is Beacon, the AI engine SignalFire has been refining since the firm's launch in 2013. Beacon tracks over 495 million employees and 80 million companies to guide the fund’s investing and assist portfolio companies with scaling their teams and revenue. SignalFire also helps early-stage founders navigate the toughest parts of building a company at every stage, with expert advisors, 200 skill-building workshops a year, and an in-house team of recruiters, data scientists, PR experts and go-to-market leaders. With over $1.8 billion in assets under management, SignalFire focuses on leading seed rounds while opportunistically investing in Series A and B rounds. Our key sectors include AI/ML, developer tools, healthcare, and cybersecurity, with notable investments such as Frame.io, Grammarly, Flock Freight, Ro and Stampli.
Strivacity lets brands add secure log-in and identity management capabilities to their customer-facing applications without tying up a crew of developers or consultants. We offer a unified customer identity and access management (CIAM) solution that uses clicks (not custom coding) so organizations can get going fast and don’t have to choose between creating great customer experiences, securing their customers’ data and staying compliant with fast-changing privacy regulations like GDPR and CCPA. To learn more about Strivacity, visit https://www.strivacity.com.