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Okta, Inc.

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182726

Okta, Inc.

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Okta, Inc.

Okta, Inc. (formerly SaaSure Inc.) is an American identity and access management company based in San Francisco. It provides cloud software that helps companies manage and secure user authentication into applications, and for developers to build identity controls into applications, websites, web services, and devices. It was founded in 2009 and had its initial public offering in 2017, reaching a valuation of over $6 billion.

Okta sells six services, including a single-sign-on service that allows users to log into a variety of systems using a single centralized process. For example, the company claims the ability to log into Gmail, Workday, Salesforce and Slack with one login. It also offers API authentication services.

Okta's services are built on the Amazon Web Services cloud.

Okta runs an annual “Oktane” user conference, which in 2018 featured former US President Barack Obama as a keynote speaker.

Okta was co-founded in 2009 by Todd McKinnon and Frederic Kerrest, who previously worked together at Salesforce.

In 2015, the company raised US $75 million in venture capital from Andreessen Horowitz, Greylock Partners, and Sequoia Capital, at a total initial valuation of US$1.2 billion.

In 2017, Okta held its initial public offering (IPO), opening on Nasdaq at $17.00 per share, trading up on its first day, to raise an additional US$187 million. At the time of its IPO, Sequoia Capital was the biggest shareholder, with a 21.2 percent stake.

In January 2019, Okta reported over 100 million registered users.

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