People on the web own several accounts across multiple networks and services, signing up for a new service often happens to be an annoyance. A new set of credentials to create, remember or manage. So most popular networks nowadays offer a way to use their login in a secure way to offer customers an easy way to sign up.
The founders of LoginRadius, in an interview, stated the idea of the startup originated only while they were working on a separate project. Although the project was getting enough traffic, they experienced a drop-off due to the hassle of signing up again for a new service. Hence they started implementing social connections to boost signup and engagements. They quickly realised that there was a crisis in this sector while there was a demand(almost 50 million websites that didn’t have social login when they launched) for an easy and economic solution. So they took the initiative to build something that solves the crisis.
Their efforts paid off and they have finally inked a funding deal with a syndicate comprising of Accelerate Fund, Yaletown Venture Partners, Real Ventures, BDC Capital and several Angel investors.
“LoginRadius’ goal is to help businesses engage and understand their users by simplifying how users connect to the web” said Rakesh Soni, Co-founder & CEO of LoginRadius, a FounderFuel 2013 graduate. “This financing gives us additional resources for rapid growth and product innovation so that we can continue to transform the way users connect to the web and mobile applications.”
The SaaS idea however can not be stated as unique though. There are strong veteran contenders like Gigya, Janrain, Singly and newer and in a way extensive services like oAuth.io.
That being said, LoginRadius pricing and usability has a competitive edge which can be game changer for them. The company is seeing a tremendous growth and is currently used by more than 100K websites and involves a whopping 15 million monthly users.
Most of their initial traction came from word of mouth marketing, it is still providing them the traction. Partnerships like Amazon, Mozilla, Google and Microsoft have also earned them enough credibility among the target audience.
The startup was cofounded by Deepak Gupta and Rakesh Soni and currently have 25 people working on the single login platform. Named among the top 25 Canadian startups the company is based in Edmonton and has recently announced new office at Sunnyvale, Canada.
