Key Takeaways from OTPless’ $3.5M Pre-Series A Funding Round

Authentication and Access Management Platform OTPless Secures $3.5M in Pre-Series A Funding

OTPless, an authentication and access management platform, has successfully raised $3.5 million in a pre-Series A funding round, spearheaded by SIDBI (Small Industries Development Bank of India). This financing round also saw active participation from Venture Highway, FJ Labs, and Piper Serica.

Before this milestone, OTPless had secured $2.7 million in a seed funding round. Noteworthy backers in the seed round include Neeraj Arora, Kunal Shah, Amrish Rau, Jitendra Gupta, Utsav Somani, Amit Jain, Fabrice Grinda, and Luke Skertich.

With the recent funding injection, OTPless has now accumulated a total funding of $6.5 million, signaling strong investor confidence in its vision and growth potential.

Enhancing Global Reach and Offerings

In light of this funding round, OTPless is poised to broaden its global footprint and extend its services beyond authentication to encompass authorization.

Moreover, the startup is gearing up to compete with established industry players such as Auth0, Clerk, Stytch, Descope, and Transmit Security.

Bhavik Koladiya, OTPless’ co-founder and CEO, articulated, “Our vision is to revolutionize user authentication by simplifying, accelerating, and fortifying the process. This infusion of funds will facilitate the expansion of our operations and the enhancement of our technology to cater to the escalating global demand.”

Who Founded OTPless?

OTPless was established by ex-BharatPe leaders Bhavik Koladiya, Satyam Nathani, and Tanmay Sagar.

The startup’s mission is to facilitate user registration and authentication across websites and apps through WhatsApp and other convenient methods. This innovative approach aims to streamline user experiences by removing the necessity for OTPs.

Koladiya affirmed, “We are dedicated to delivering top-notch experiences for our users and partners. This investment empowers us to persist in innovation and broaden our offerings.”

Facilitating Integration of SDKs and APIs

This startup offers an innovative online platform designed to facilitate seamless integration of SDKs and APIs. Supporting a range of social sign-in methods such as Google, iMessage, Microsoft, Github, Slack, UPI, as well as modern protocols like Passkeys, Network Auth, Protected SMS, and Device Fingerprinting, it provides developers with versatile tools.

Developers can effortlessly incorporate OTPless’s SDKs and APIs into their projects, enabling swift deployment within minutes. They have the flexibility to choose from pre-built UIs or customize their integration from scratch, streamlining the development process.

Introducing Innovative Features and Integrations

OTPless is gearing up to unveil a suite of new features and integrations aimed at streamlining the authentication process for both users and developers.

These enhancements encompass a variety of options such as expanded social sign-in choices, upgraded biometric authentication techniques, passkeys, adaptive authentication, and advanced security measures designed to combat evolving threats.

With a strong foothold in Surat, the startup boasts a global user base, with over 5,000 companies and 20,000 developers relying on its platform to authenticate more than 30 million users.