Okta, Inc. (NASDAQ:OKTA), a San Francisco, CA-based independent provider of identity solutions for the enterprise, has launched a $50m investment fund.
Okta Ventures will invest in and nurture technologies aimed at solving challenges across the modern technology landscape, focusing specifically on identity, security, and privacy.
The fund will focus on companies building innovative solutions throughout the technology ecosystem, including artificial intelligence, machine learning, and blockchain, with an emphasis on early stage investment. It will seek out startups that are aligned with Okta’s vision of enabling any organization to use any technology. Along with monetary investments, Okta Ventures plans to provide a number of advantages for portfolio companies, including the use of software, access to expertise, SDK and API design partnerships, and co-marketing opportunities.
In addition to announcing the creation of the fund, the company is also announcing its first investment in Trusted Key, a blockchain-based digital identity company.
Founded in 2016 by former executives from Microsoft, Oracle, and Symantec and led by Amit Jasuja, Chief Executive Officer, Trusted Key has built a decentralized digital identity solution to enable organizations that work together as ecosystems to share proofed user identities with user consent.