Welcome!

Cloud Expo Authors: Elizabeth White, Yeshim Deniz, Greg Ness, Pat Romanski, Carmen Gonzalez

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.

@CloudExpo Stories
We are all here because we are sold on the transformative promise of The Cloud. But what good is all of this ephemeral, on-demand infrastructure if your usage doesn't actually improve the agility and speed of your business? How must Operations adapt in order to avoid stifling your Cloud initiative? In his session at DevOps Summit, Damon Edwards, co-founder and managing partner of the DTO Solutions, will highlight the successful organizational, process, and tooling patterns of high-performing c...
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from ha...
Software-driven innovation is becoming a primary approach to how businesses create and deliver new value to customers. A survey of 400 business and IT executives by the IBM Institute for Business Value showed businesses that are more effective at software delivery are also more profitable than their peers nearly 70 percent of the time (1). DevOps provides a way for businesses to remain competitive, applying lean and agile principles to software development to speed the delivery of software that ...
Docker offers a new, lightweight approach to application portability. Applications are shipped using a common container format and managed with a high-level API. Their processes run within isolated namespaces that abstract the operating environment independently of the distribution, versions, network setup, and other details of this environment. This "containerization" has often been nicknamed "the new virtualization." But containers are more than lightweight virtual machines. Beyond their small...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's

An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the ...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
Infor has announced a new feature Infor CloudSuite™ Aerospace & Defense (A&D) to aid compliance with International Traffic in Arms Regulations (ITAR). The ITAR function will serve as a complementary function for new or existing Infor CloudSuite A&D customers, to facilitate compliance for Infor customers that are creating a US defense article or performing a US defense service and wish to benefit from cloud-services. The ITAR regulation serves to manage handling and access requirements for dat...