Welcome!

Cloud Expo Authors: Yeshim Deniz, RealWire News Distribution, Mike Kavis, Elizabeth White, Liz McMillan

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.

Cloud Expo Breaking News
Over the last few years the healthcare ecosystem has revolved around innovations in Electronic Health Record (HER) based systems. This evolution has helped us achieve much desired interoperability. Now the focus is shifting to other equally important aspects – scalability and performance. While applying cloud computing environments to the EHR systems, a special consideration needs to be given to the cloud enablement of Veterans Health Information Systems and Technology Architecture (VistA), i.e., the largest single medical system in the United States.
It’s time to face reality: "Americans are from Mars, Europeans are from Venus," and in today’s increasingly connected world, understanding “inter-planetary” alignments and deviations is mission-critical for cloud. In her session at 15th Cloud Expo, Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems, will discuss cultural expectations of privacy based on new research across these elements.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at Internet of @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, will discuss the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data and analysis are providing the pull to meet customer expectations of a widely connected, multi-dimensional universe of people, things, and information.
SYS-CON Events announced today that Esri has been named “Bronze Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Esri inspires and enables people to positively impact the future through a deeper, geographic understanding of the changing world around them. For more information, visit http://www.esri.com.
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, has been named “Bronze Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Cloudian is a Foster City, Calif.-based software company specializing in cloud storage. Cloudian HyperStore® is an S3-compatible cloud object storage platform that enables service providers and enterprises to build reliable, affordable and scalable hybrid cloud storage solutions. Cloudian actively partners with leading cloud computing environments including Amazon Web Services, Citrix Cloud Platform, Apache CloudStack, OpenStack and the vast ecosystem of S3 compatible tools and applications. Cloudian's customers include Vodafone, Nextel, NTT, Nifty, and LunaCloud. The company has additional offices in China and Japan.
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how these devices generate enough data to learn our behaviors and simplify/improve our lives. What if we could connect everything to everything? I'm not only talking about connecting things to things but also systems, cloud services, and people. Add in a little machine learning and artificial intelligence and now we have something interesting...
After a couple of false starts, cloud-based desktop solutions are picking up steam, driven by trends such as BYOD and pervasive high-speed connectivity. In his session at 15th Cloud Expo, Seth Bostock, CEO of IndependenceIT, cuts through the hype and the acronyms, and discusses the emergence of full-featured cloud workspaces that do for the desktop what cloud infrastructure did for the server. He’ll discuss VDI vs DaaS, implementation strategies and evaluation criteria.
Cloud computing started a technology revolution; now DevOps is driving that revolution forward. By enabling new approaches to service delivery, cloud and DevOps together are delivering even greater speed, agility, and efficiency. No wonder leading innovators are adopting DevOps and cloud together! In his session at DevOps Summit, Andi Mann, Vice President of Strategic Solutions at CA Technologies, will explore the synergies in these two approaches, with practical tips, techniques, research data, war stories, case studies, and recommendations.
Cloud Computing is evolving into a Big Three of Amazon Web Services, Google Cloud, and Microsoft Azure. Cloud 360: Multi-Cloud Bootcamp, being held Nov 4–5, 2014, in conjunction with 15th Cloud Expo in Santa Clara, CA, delivers a real-world demonstration of how to deploy and configure a scalable and available web application on all three platforms. The Cloud 360 Bootcamp, led by Janakiram MSV, an analyst with Gigaom Research, is the first bootcamp that introduces the core concepts of Infrastructure as a Service (IaaS) based on the workings of the Big Three platforms – Amazon EC2, Google Compute Engine, and Azure VMs. Bootcamp attendees will get to see the big picture and also receive the knowledge needed to make the best cloud decisions for their business applications and entire enterprise IT organization.
“Distrix fits into the overall cloud and IoT model around software-defined networking. There’s a broad category around software-defined networking that’s focused on data center, and we focus on the WAN,” explained Jay Friedman, President of Distrix, in this SYS-CON.tv interview at the Internet of @ThingsExpo, held June 10-12, 2014, at the Javits Center in New York City. Internet of @ThingsExpo 2014 Silicon Valley, November 4–6, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading IoT industry players in the world.
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at 15th Internet of @ThingsExpo, Chad Jones, Vice President, Product Strategy of LogMeIn's Xively IoT Platform, will show you how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
“The Internet of Things is a wave that has arrived and it’s growing really fast. The concern at Aria Systems is making sure that people understand the ramifications of their attempts to monetize whatever it is they build on the Internet of Things," explained C Brendan O’Brien, Co-founder and Chief Architect at Aria Systems, in this SYS-CON.tv interview at the Internet of @ThingsExpo, held June 10-12, 2014, at the Javits Center in New York City. Internet of @ThingsExpo 2014 Silicon Valley, November 4–6, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading IoT industry players in the world.
The Internet of Things is a natural complement to the cloud and related technologies such as Big Data, analytics, and mobility. In his session at Internet of @ThingsExpo, Joe Weinman will lay out four generic strategies – digital disciplines – to exploit emerging digital technologies for strategic advantage. Joe Weinman has held executive leadership positions at Bell Labs, AT&T, Hewlett-Packard, and Telx, in areas such as corporate strategy, business development, product management, operations, and R&D.
SYS-CON Events announced today that DevOps.com has been named “Media Sponsor” of SYS-CON's “DevOps Summit at Cloud Expo,” which will take place on June 10–12, 2014, at the Javits Center in New York City, New York. DevOps.com is where the world meets DevOps. It is the largest collection of original content relating to DevOps on the web today Featuring up-to-the-minute news, feature stories, blogs, bylined articles and more, DevOps.com is where the thought leaders of the DevOps movement make their ideas known.