Evolution Equity Partners led a $100m Series C round in Beyond Identity, a provider of passwordless authentication, with participation from New Enterprise Associates, Potentum Partners, Expanding Capital and HBAM. "As an industry, we are coming dangerously close to being complicit in cybercrime. Pouring truckloads of VC and PE money into legacy authentication technology will not protect companies. Throwing money at security ‘controls’ that criminals consistently evade, in an attempt to inexplicably protect and preserve the gaping hole that is passwords, is not only funding failure, it’s knowingly failing companies and customers. Password managers, phishable MFA, and outdated VPN technologies are not the answer and will not close the wide-open door that criminals waltz through every day. Today’s announcement sends a loud message that failure is no longer an option," TJ Jermoluk, Beyond Identity CEO.