Frontegg, an Israeli startup that offers a modern user management platform for the Product-led era, brought in $40 million in Series B funding co-led by Stripes and global software investor Insight Partners. The company offers Busines to Busines – B2B – solutions that can be used with an app and has now brought in a total of $70 million in investment.
This comes about 8 months after Frontegg held a $25 million Series A funding round in December of 2021. The company is also a Service as a Software – SaaS – provider.
So somebody is still managing to bring in the big money in new investments at this time of recession when high-tech firms are making cutbacks. It seems that every day now another Israel Startup Nation firm is announcing layoffs. Some have had to rethink their IPO plans and have even seen their valuations plummet after a new raise. For example, two major Israeli firms, Outbrain and Fiverr, announced this week that they were letting go of almost 100 employees between them.
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Founded in 2019 by CEO Sagi Rodin and CTO Aviad Mizrachi, Frontegg is a user management platform. The company boasts that it provides “blazing-fast integration of a powerful user infrastructure, designed to handle modern application use-cases.”
The platform supports app builders by covering all the way from fundamental authentication flows to the most advanced capabilities such as complex organizational structures (multi-tenancy), fine-grained authorization, API-token management, self-service admin portal for end-users, subscription enforcement, single-sign-on (SSO), and much more.
Frontegg CEO Sagi Rodin commented, “Nowadays, users of business apps expect to seamlessly sign up for products using modern authentication methods, invite team members, control their roles, define organization-wide security policies and upgrade subscription tiers.”
“Building these capabilities in-house is extremely resource-intensive due to their complexity, sensitivity and scope,” he added “Existing user management products offer partial solutions because they only solve authentication and are built to manage individuals, not teams and organizations.”