Magic lands $27M Series A for its ‘plug and play’ passwordless tech
Magic, a San Francisco-based start-up that builds “plug and play” passwordless authentication technology, has raised $27 million in Series A financing. The round, led by Northzone and with involvement from Tiger Global, Volt Capital, Digital Currency Group and CoinFund, comes just over a year after Magic launched from stealth, rebranding from its previous name Formatic. […] The company, like lots of others, is on a mission to end traditional password-based authentication. Magic’s flagship SDK, which introduced in April 2020, makes it possible for developers to implement a range of passwordless authentication methods with just a couple of lines of code and integrates with a number of modern-day structures and infrastructures.” This is why the password is so hazardous,”Sean Li, Magic co-founder and CEO informs TechCrunch. The company now plans to continue to scale its platform and broaden its team to fulfill what Magic explains as”skyrocketing”need. It’s likewise planning to construct out the SDK even further; Li states he wants to be able to plug into more kinds of innovation, from low-code applications to workflow automations….
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