June 28, 2024 at 10:45AM
AuthZed, a startup specializing in permission management technology, has secured $12 million in a Series A funding round led by General Catalyst. With a total of $15.8 million raised, Amplify Partners and Work-Bench have also acquired equity stakes. This investment will support expansion into the SMB market and the general availability of Materialize.
Key takeaways from the meeting notes:
– AuthZed, a startup focused on permission management technology solutions, has successfully raised $12 million in a Series A funding round led by General Catalyst, bringing the total capital raised to $15.8 million.
– The funding round also saw equity stakes from Amplify Partners and Work-Bench.
– AuthZed’s enterprise-ready permissions system, leveraging its open source project SpiceDB, provides fine-grained access control to only authorized users for specific assets.
– The company’s solution is highlighted as easy-to-use, fast, scalable, and secure, with the ability to store, compute, and validate permissions to address the increasing complexity of user interactions in modern applications.
– AuthZed plans to expand its presence in the small and midsize businesses (SMB) market with a fully managed and easy-to-deploy permissions system, as well as bring its recently launched product, Materialize, to general availability.
– CEO Jake Moshenko expressed that the new funding will support the company’s efforts to enhance customer experiences through scalable and flexible permissions system architecture.