OTPless has secured $3.5 million in their pre-series A funding round! This milestone signifies a pivotal moment in their journey to reshape mobile authentication. Under the leadership of SIDBI Venture and bolstered by Venture Highway, FJ Labs, and Piper Serica, this round of funding brings their total investment to $6.5 million.
OTPless is committed to reshaping user authentication norms. Traditional methods like One-Time Passwords (OTPs) are not only cumbersome but also pose significant security risks. The solution? Eliminating OTPs entirely. OTPless enables users to effortlessly sign up and sign in via WhatsApp and other secure methods, simplifying the process while enhancing security measures.
In just one year, OTPless has revolutionized the identity and access management (IAM) landscape. Their platform supports various social sign-in methods and modern protocols, making it a top choice for developers worldwide. With over 5,000 companies and 20,000 developers utilizing their SDKs and APIs, OTPless currently authenticates more than 30 million users, resulting in remarkably high conversion rates.
The recent funding will fuel OTPless’s global expansion efforts. They aim to broaden their services beyond authentication to encompass authorization, offering users and partners a more comprehensive solution.
User trust is paramount to our success, and we take our responsibility to protect users very seriously, said Tanmay Sagar, Co-founder of OTPless. Our platform is designed with security in mind, and we continuously monitor and update our systems to address new threats and vulnerabilities. We are committed to maintaining the highest standards of security and privacy for our users.
With the global customer identity and access management market booming, OTPless is poised to seize opportunities and challenge established players. Their innovative solutions provide a seamless user experience while ensuring robust security, making OTPless an appealing choice for businesses of all sizes.
