Omada, a Copenhagen, Denmark-based provider of identity and access governance (IAG) and identity access management (IAM) software to businesses, received a USD$24m minority equity investment.
C5 Capital made the investment.
The company intends to use the funds for continued expansion beyond Continental Europe into the UK and United States, sales and marketing activity and enhance its R&D capabilities.
Led by Morten Boel Sigurdsson, founder and CEO, Omada provides identity and access governance (IAG) and identity access management (IAM) software. It is used to determine the access rights of employees within an organization, managing a complex web of rights and providing a compliance and governance framework. Initially deployed in highly regulated sectors such as financial services and healthcare, data access control and protection, the software is now being more widely applied in other industries such as retail, automotive, manufacturing and the public sector.
Vustomers include blue chip organizations in Europe and the US including BMW Group, Bayer Group, Altria Group, Maersk, HVB Unicredit, DekaBank and ECCO.
The company currently employs 120 people.