On June 20, 2023, Great Wall Strategic Consulting (GEI) released the "2023 Research on China's Potential Unicorn Enterprises" report. Authing, as the first identity cloud (IDaaS) vendor in China, was selected into the list of potential unicorn companies in China. Unicorn enterprises refer to start-up enterprises with attributes such as fast development, small number, and favored by investors. They have made outstanding achievements in breaking through new technologies, applying new scenarios, creating new formats, and opening up new tracks. Authing has been selected as a potential unicorn company in China for two consecutive years.
In 2022, China's potential unicorn companies are distributed in 41 tracks. The "Report" believes that potential unicorn companies are the leaders of the new track, reshaping the value chain with new technologies and models, opening up new markets and creating new formats with scenario innovation. Potential unicorn companies are an important part of China's new momentum and represent the future of China's economy.
Great Wall Strategy Consulting is a professional strategy and business management consulting company, founded in 1993, and is one of the private consulting companies with the longest working history in China. Since 2020, Great Wall Strategic Consulting has released the "Research Report on China's Potential Unicorn Enterprises" for four consecutive years.
In terms of leadership in the identity cloud industry , as the first event-driven cloud-native identity governance platform in China , the PaaS-based orchestration engine based on the graph model realizes automatic, efficient management and flexible connection of the entire identity life cycle. Provides a metadata-driven orchestrated identity automation platform, as well as identity security management capabilities based on behavioral data analysis and AI engines. Provide enterprises with high-security, high-performance, and high-productivity full-scenario identity governance capabilities.
In terms of enterprise development potential , Authing's performance and influence have been increasing year by year. Since its establishment in 2019, Authing Identity Cloud has received more than 30 million US dollars in financing. At the end of 2021, the US$23 million Series A round of financing will be completed, led by Tiger Global Fund, followed by CDH VGC (Innovation and Growth Fund), Agora, GGV Capital and Qiji Chuangtan.
In 2022, there will be 653 potential unicorn companies in China, of which 48 potential unicorns will be promoted to unicorns or successfully listed . Being rated as a potential unicorn company in China is the market's recognition of Authing's overall product capabilities and potential.