Frontegg raises $25m to accelerate product-led growth adoption for SaaS applications
Frontegg, the modern user management platform for the Product-led era, has announced a $25m Series A funding round led by New York-based global venture capital and private equity firm Insight Partners, with participation from existing seed investors Pitango First and Global Founders Capital.
This investment, which brings Frontegg’s total funding to $30m, will support the company’s rapid growth as it scales its platform and accelerates global expansion.
In a recent report by OpenView, four out of five SaaS companies surveyed said they had adopted product-led tactics. The benefits of embracing Product-Led Growth (PLG) are apparent, as according to OpenView, companies in its PLG Index trade at a 50% premium compared to companies in the broader SaaS index.
Product-led companies have unique user management requirements, including a passwordless signup experience, advanced subscription enforcement controls and seamless self-service administration, as well as enterprise-readiness capabilities such as SSO, security policies and audit logs. “I’ve seen firsthand how building out self-serve user management capabilities can divert critical engineering resources away from developing the core product, becoming an innovation blocker,” said Sagi Rodin, CEO and Co-Founder of Frontegg.
With the Frontegg platform, companies can easily implement comprehensive user management that meets the necessary requirements for PLG. The secure and scalable solution can be quickly integrated into any product with just a few lines of code, with support for all popular frontend and backend frameworks. Frontegg’s user management infrastructure is already used by dozens of fast-growing companies, including Materialize, Pay.com, Medigate, Talon Cyber Security and Hunters.AI.
“When building a self-service product, something that sounds simple is often in fact very complex behind the scenes,” said Arjun Narayan, CEO and Co-Founder of Materialize. “We’re focused on building a great self-service product for the long term — but also need to move quickly. We identified Frontegg as the best solution to make the complexity of user management a turnkey solution. Frontegg is the only product in the market that supports enterprise readiness features like multi-tenant SSO and self-service access control management.”