BeyondID Secures $9 Million in Series A Financing to Expand Identity and Cybersecurity Services Business

Tercera’s Investment Spotlights the Opportunity and Growth for Services in the Third Wave of Cloud Computing

BeyondID, a leading System Integrator (SI) and Managed Service Provider (MSP) for cybersecurity and cloud services, announced it closed a Series A funding round of $9 million. The financing was provided by Tercera, an investment and advisory company specializing in the $460B cloud professional services market.

BeyondID helps companies acquire, deploy and manage best-of-breed cybersecurity and cloud services to become more secure, agile and prepared for the future. The company is a Platinum Services partner for Okta, and specializes in Identity and Access Management, Secure App Modernization, Zero Trust Security, Cloud Migration and Integration Services.

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“We are thrilled to partner with Tercera to expand our footprint in the Okta ecosystem and broaden our identity and cybersecurity offerings,” said Arun Shrestha, CEO and co-founder of BeyondID. “Tercera’s investment will help us meet the growing demand organizations have for more secure access to their critical data and higher performing cloud identity solutions.”

BeyondID has been a top partner for Okta, the leading identity platform in the enterprise, for nearly three years. It has earned Okta’s Platinum partnership for consistently delivering joint customer successes and for building one of the largest teams of Okta certified experts to solve complex use cases.

“The BeyondID team has been an invaluable part of our partner ecosystem for many years, working with us on some of our largest customers,” said Frederic Kerrest, Executive Vice Chairman, Chief Operating Officer, and co-founder of Okta. “They’ve played a vital role in helping our customers solve their most complex security and cloud computing challenges, and we’re excited to see BeyondID continue to meet the needs of our customers and grow with us.”

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“Tercera is on a mission to identify and empower the people and businesses who will lead the cloud’s Third Wave, and we couldn’t be more excited to have BeyondID as our first portfolio partner,” said Chris Barbin, CEO and founder of Tercera. “BeyondID exemplifies the kind of company that customers want to work with in this new wave – agile, focused, growth minded and customer-centric. A company with the specialized skills, technology and services to meet the evolving security needs and demands of today’s businesses and their remote workforce.”

BeyondID has served hundreds of enterprises that include ATN International, Bain Capital, Biogen, Discount Tire, FedEx, Gundersen Health Systems, Johnson Financial Group and Major League Baseball.

“ATN relied on BeyondID’s expertise to deploy our Identity and Access Management solution from Okta, on time and on budget,” said Benjamin Doyle, vice president of Information Technology at ATN International. “As a result of our successful engagement, we’ve expanded our relationship to help with our Zero Trust strategy. I’m excited to work with BeyondID in this incredibly important aspect of our business.”