CRV Leads $30 Million Round in Clerk

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; <a href&equals;"https&colon;&sol;&sol;cts&period;businesswire&period;com&sol;ct&sol;CT&quest;id&equals;smartlink&amp&semi;url&equals;https&percnt;3A&percnt;2F&percnt;2Fclerk&period;com&amp&semi;esheet&equals;53884367&amp&semi;newsitemid&equals;20240117610993&amp&semi;lan&equals;en-US&amp&semi;anchor&equals;Clerk&amp&semi;index&equals;1&amp&semi;md5&equals;ecf87b2dcd151fc47c81cc1a5da19cc6&amp&semi;&lowbar;gl&equals;1&ast;1o10hek&ast;&lowbar;ga&ast;NjQ1OTY3OTQ4LjE2NDE1MjA3MTE&period;&ast;&lowbar;ga&lowbar;ZQWF70T3FK&ast;MTcwNjU3NjYwOC4yNjcuMS4xNzA2NTc2Njg0LjYwLjAuMA&period;&period;" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">Clerk<&sol;a>&comma; a developer tools company known for its React-friendly authentication solution&comma; has raised &dollar;30 million in Series B financing led by CRV&comma; with participation from Stripe&comma; and existing investors Andreessen Horowitz and Madrona&period; The capital will be used to expand its service beyond authentication&comma; which identifies who a user is&comma; and into authorization&comma; which determines the permissions a user has&period;<&sol;p>&NewLine;<p>The investment from Stripe marks the beginning of a strategic partnership between the two companies&period; As the industry-leading billing solution&comma; Stripe Billing helps developers create and manage user subscriptions&period; Since permission to access certain features typically depends on the user’s subscription plan&comma; Clerk requires a tight integration with Stripe Billing to create a robust authorization solution&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;The &lt&semi;SignIn&sol;&gt&semi; and &lt&semi;UserProfile&sol;&gt&semi; components from Clerk have already set a new standard in authentication&comma; and proven that components are the new APIs&comma;” said Reid Christian&comma; General Partner at CRV&period; &OpenCurlyDoubleQuote;We’re thrilled to support Clerk as they apply their solutions to the authorization market&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Our customers have been asking us to integrate with Stripe since the week we launched&comma;” said Colin Sidoti&comma; CEO of Clerk&period; &OpenCurlyDoubleQuote;Billing information is notoriously challenging to sync with authorization engines&comma; so it’s natural that developers have been asking us to provide a solution&period;”<&sol;p>&NewLine;<p>Since announcing its Series A financing last January&comma; Clerk has grown from 1 million to over 16 million managed users&comma; and now facilitates more than one sign-up per second&period; The company has amassed over 1&comma;300 paying customers across several verticals&comma; including SaaS&comma; AI&comma; fintech&comma; and e-commerce&period;<&sol;p>&NewLine;<p>Clerk&&num;8217&semi;s Series B financing will help accelerate its product development&comma; grow its team&comma; and further its mission to ensure every developer can easily implement safe and user-friendly security&period;<&sol;p>&NewLine;