Okta, which provides identity management services for large companies, has closed $25 million in Series C funding led by new investor Sequoia Capital. Its existing investors include Andreessen Horowitz, Greylock Partners, Khosla Ventures and Floodgate.
Okta is designed for centralized control by companies whose employees require logins to multiple sites, access from remote locations, and secure use of their own devices (BYOD).
During 2012, Okta has added 140 new customers, including Allergan, BMC Software, Clorox, Groupon and National Geographic. It also partnered with Workday to create applications for human resources departments, which are now part of the 2,000 apps that integrate with Okta.
“CIOs have spent years and millions of dollars deploying and maintaining on-premises identity management software with marginal success at best,” said Douglas Leone, general partner at Sequoia Capital. “Okta has an opportunity to not only address head-on the challenges of today’s cloud, mobile and increasingly interconnected world, but to become an essential platform for CIOs to manage access across all of their users, applications and devices. This is a transformative company and we couldn’t be more bullish on the opportunity and the company’s ability to execute.”
Okta – http://www.okta.com
Okta – press release
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