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Friday, January 27, 2023

Zitadel raises $2.5M for open-source digital identity platform – Biometric Update

Switzerland-based firm Zitadel has raised $2.5 million for the development of an open-source identity and access management (IAM) platform focusing on passwordless digital IDs.
The seed funding was led by Nexus Venture Partners, an investment firm known for supporting a number of enterprise technology and consumer internet ventures.
Developed in the Go programming language, the Zitadel solution provides integrations in multiple languages and frameworks.
According to the company, the IAM platform can also be integrated within open-source projects that were not built for a cloud-native and serverless environment.
“Amidst today’s complex software projects, Zitadel provides a turnkey solution that allows developers to get started easily with a secure login, user management, multi-factor authentication, social logins, authorization management, and great APIs,” explains Zitadel CEO Florian Forster.
“With Zitadel, we provide an important component to improve the overall security of a project while reducing your time-to-market.”
The company said it will now use the fresh funds to expand the capabilities of its IAM suite to include multi-tenancy, unlimited audit trails, improved ability to self-host, support for serverless deployments, and the ability to extend Zitadel’s capabilities with WebAssembly bespoke code.
Customers can reportedly create a Zitadel instance in less than five minutes, without the need of a credit card, and with the ability to define the country or geopolitical region in which the platform’s digital identity and other sensitive data will be stored.
“We’re delighted to break new ground partnering with Florian and the Zitadel team, our first-ever investment in a Swiss company,” says Abhishek Sharma, managing director at Nexus Venture Partners.
“We believe the future of digital identities is passwordless. Zitadel takes a developer-first, open-source approach to solving identity management. Its simple and easy-to-integrate building blocks help developers build secure authentication into their applications without requiring deep in-house expertise and resource commitment.”
The Zitadel platform is available in both self-hosted and cloud-hosted plans.
Passwordless digital ID and authentication have been drawing significant investments of late, highlighted by the $100 million picked up earlier in the year by Beyond Identity.
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