Passwordless tech startup Beyond Identity raises $75 million

Beyond Identity, a New York-based startup developing passwordless identity management solutions, raised $75 million in venture capital. The company says the funds will be used to fuel expansion of Beyond Identity’s product capabilities and to expand its global footprint, which will entail signing on new distribution channels, OEM partners, and international sales and support reps.

A Google survey found that at least 65% of people reuse passwords across multiple, if not all, sites. Another recent survey found that 91% of respondents claim to understand the risks of reusing passwords across multiple accounts, but 59% admitted to doing it anyway. That’s perhaps why compromised passwords are responsible for 81% of hacking-related breaches, according to the Verizon Data Breach Investigations Report.

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