Portland Seed Fund portfolio company Auth0 to exit for $6.5 billion

While Auth0 is a Seattle company, they do have a distinct Portland tie. You see, the Portland Seed Fund was one of the company’s early investors. And today was a big day for everyone involved, given that it was just announced that Okta is acquiring Auth0 for $6.5 billion.

Auth0, the billion-dollar Seattle-area startup that is a leader in identity authentication software, is being acquired by Okta, another leader in the space, the companies announced Wednesday. The all-stock deal is valued at approximately $6.5 billion — one of the largest acquisitions of a Seattle company.

Auth0 was co-founded in 2013 by Eugenio Pace, who formerly ran the patterns and practices group at Microsoft. The startup’s valuation of $1.9 billion, as of July 2020, made it a rare Seattle unicorn.

Founders’ Co-op, which announced a new fund this week, was also an early investor in Auth0.

For more information, see the Okta press release and coverage in GeekWire.

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