The funding will help WorkOS accelerate product development and hire more talent. Here are the top-line bullets you need to know.
WorkOS, an enterprise single sign on (SSO) and directory sync platform, has raised $80M in a Series B funding round. The round drew participation from Abstract Ventures, Lightspeed Venture Partners, and Greenoaks Capital Management, among others.
How’s the company performing?
- California-based WorkOS offers a set of tools to help developers add enterprise features to apps.
- Along with the funding, the company announced the acquisition of Modulz.
- The company counts over 200 customers, including Vercel, Stripe, Scale, and Airtable.
- WorkOS is supported by a team of more than 40 employees.
Source: WorkOS
Why does the market matter?
- The global single sign-on (SSO) market is expected to reach $2.2B by 2027, at a CAGR of 12.9%, according to Global Industry Analysts.
- The rapid uptake of SSO solutions across industries and the growing adoption of big data and cloud computing have contributed to the market’s growth.
