Okta, a San Francisco, CA-based provider of identity management solutions, raised $75m in Series E financing.
The round, which brought total capital raised to $155m, was led by Sequoia Capital with participation from existing investors Andreessen Horowitz, Greylock Partners, and Khosla Ventures, and new investors Janus Capital Group and Altimeter Capital. As part of the agreement, Sequoia Capital’s Pat Grady will join Okta’s Board of Directors.
The company intends to use the funds to grow its Enterprise Identity Network and open a new office in Sydney, Australia, to expand there and in Asia Pacific, and accelerate product innovation.
Founded in 2008 Todd McKinnon, Chief Executive Officer, and Frederic Kerrest, Chief Operating Officer, Okta provides a cloud-based enterprise grade identity management service to manage access across any application, person or device.
The service provides directory services, single sign-on, authentication, provisioning, workflow, and built-in reporting.
Clients include Activision, Allergan, BMC Software, Groupon, Informatica, LinkedIn, Purolator and SAP.
The company is hiring.