Welcome!

News Feed Item

Okta Secures $75 Million to Drive Product Innovation and Growth of Enterprise Identity Network, Expansion Into Asia Pacific

Sequoia Capital Leads, Janus Capital Group and Altimeter Capital Join Existing Investors in Series E Round

SAN FRANCISCO, CA -- (Marketwired) -- 06/11/14 -- Okta today announced it has closed $75 million in a Series E funding round, led by Sequoia Capital. The round includes contributions from other existing investors Andreessen Horowitz, Greylock Partners and Khosla Ventures, as well as new investors Janus Capital Group and Altimeter Capital. The round brings the company's total capital raised to $155 million and will support its aggressive growth strategy. The capital will accelerate product innovation to grow Okta's Enterprise Identity Network, as well as fuel the company's expansion into Asia Pacific. As part of the agreement, Sequoia Capital's Pat Grady will join Okta's Board of Directors.

"Identity management has quickly become the centerpiece of cloud security, and the speed with which Okta moved from early pioneer to mature, category-defining company is a testament to their world-class team, scalable product, and passionate customers," said Pat Grady, partner, Sequoia. "It is exceedingly rare for a business to evolve into a true enterprise software company as rapidly as Okta has, and we're thrilled to redouble our commitment at such an auspicious time for the company, its customers and cloud computing."

Accelerating the Reach and Value of Okta's Enterprise Identity Network

Okta, recently named a leader in Gartner's Magic Quadrant for Identity and Access Management as a Service (IDaaS), has built the industry's fastest-growing Enterprise Identity Network, a cloud-based identity service that securely connects any combination of users, applications, devices, and organizations. It enables IT leaders to secure their rapidly evolving environments, and to deliver highly engaging and productive experiences to their employees, partners, and customers. With this round, Okta will invest significantly to accelerate product innovation and broaden the reach of its Enterprise Identity Network, which now includes 1,200+ enterprises, such as MGM Resorts International, Chiquita Brands, London Gatwick Airport, LinkedIn and Rotary International.

"Over the last five years, we've invested heavily to build a service that's 'always on,' secure and scales to meet the needs of any organization. During our growth we've integrated thousands of applications, on-boarded 1,200+ enterprises and connected more than four million end users to form the industry's fastest-growing Enterprise Identity Network," said Todd McKinnon, CEO of Okta. "This new capital allows us to further accelerate the growth of our network internationally. We're doubling down on product innovation for enterprises embracing a cloud- and mobile-centric world and for ISVs seeking to better secure and simplify their products."

Aggressive Global Expansion, Establishes Presence in Asia Pacific

Okta also announced its presence in Sydney, Australia, led by identity management veteran Graham Pearson. Pearson joins the company as its first regional vice president for Asia Pacific, bringing 20+ years of experience in the IT industry, most recently scaling Oracle's identity offering in Asia Pacific. He will be responsible for establishing and growing Okta's operations in the region.

"We're in the midst of a big shift from on-premises, legacy technologies to a cloud- and mobile-centric world. It's the kind of shift that's forcing enterprises to re-architect their IT organizations and consider what will play an essential role in the modern environment. For many, it's cloud-based identity management," said Graham Pearson, regional vice president of Okta. "Okta is the clear leader in that category, with a big vision for the business and value provided to customers and impressive execution -- and we're ready to introduce it to the Asia Pacific market."

Allen & Company LLC served as Okta's financial advisor and assisted in putting together this funding round.

About Okta

Okta is an enterprise-grade identity management service, built from the ground up in the cloud and designed to address the challenges of a cloud, mobile and interconnected business world. Okta integrates with existing directories and identity systems, as well as thousands of on-premises, cloud-based and mobile applications, to enable IT to securely manage access anywhere, anytime and from any device.

More than 1,200 enterprises, including Allergan, LinkedIn, MGM Resorts International and Western Union, use Okta to increase security and employee productivity, as well as lower IT costs and improve compliance. The hundreds of enterprises, thousands of cloud application vendors and millions of people using Okta today also form the foundation for the industry's first Enterprise Identity Network. Okta is backed by premier venture capital firms Andreessen Horowitz, Greylock Partners, Khosla Ventures and Sequoia Capital. To learn more about Okta, visit: http://www.okta.com.

Subscribe to Okta's blog: http://www.okta.com/blog
Follow Okta on Twitter: http://www.twitter.com/okta
Follow Okta on Facebook: https://www.facebook.com/OktaIdentity

Media Contact

Lindsay Life
press(at)okta(dot)com
415-625-8555

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and G...
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet and...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
Zerto exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016. Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual...
Some people worry that OpenStack is more flash then substance; however, for many customers this could not be farther from the truth. No other technology equalizes the playing field between vendors while giving your internal teams better access than ever to infrastructure when they need it. In his session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will talk through some real-world OpenStack deployments and look into the ways this can benefit customers of all sizes....