LoginRadius, a Canada-based customer identity and access management technology producer, has raised $17m in a series A round co-led by software provider Microsoft’s corporate venturing unit, M12.
Venture capital firm ForgePoint Capital co-led the round, which included Real Ventures, BDC Capital and Yaletown Venture Partners, all three of which participated in the company’s $1.3m seed round in 2014 alongside Accelerate Fund.
LoginRadius has built a cloud-based software platform capable of securely transacting with billions of identities. It is used by businesses to power their user registration and log-in functions. The capital will fund product development, marketing and international growth.
Nagraj Kashyap, global head of M12, said: “We are excited to invest in LoginRadius because they are delivering on their promise to simplify customer identity management, which allows enterprise companies to more easily achieve their digital transformation ambitions.”