Okta Closes $16.5 Million in New Funding

Okta, a cloud based management startup company in San Francisco, recently closed a $16.5 million of venture investment. A new startup business that specializes in access and identity management through the cloud environment has earned the respect of investors that is why they were able to get a huge amount of financing.

Okta was launched in January this year by former Salesforce.com executive, Tom McKinnon, and has now gathered over $26 million dollars in investment financing. The latest contributors include Khosla Ventures and Greylock Partners. They joined Okta’s previous investors’ Floodgate and Andreessen Horowitz.

The funding was announced in a press release; Okta said the money would be used to “help fuel an aggressive growth strategy as the company continues to make cloud application adoption easier than ever for both enterprise IT and their end users.”

Okta’s focus on their Cloud-Based Services Platform would be to provide identity management for cloud users in the enterprise. This will allow the deployment of web applications remotely without compromising security. Its application network on the other hand, will include pre-combined service and business applications from partner vendors like Google, Cisco, Oracle, Microsoft, Salesforce.com and many others.

Among the first users of Okta management service include Pandora Media, Enterasys and AMAG Pharmaceuticals.

McKinnon said “We truly believe that leveraging the cloud is simply better for business — it enhances productivity, cuts costs and opens up new opportunities. We’re making cloud applications more accessible and easier for enterprises to manage — something our customers are demanding.”


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