Okta, the startup that helps companies manage their sign-in information for hundreds of cloud services and business software applications, has landed a $75 million round of funding at an implied valuation of $1.2 billion.
Okta Is Now a Unicorn After $75 Million Funding Round
The deal from existing investors values the company at $1.2 billion.
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The investment is coming from existing investors, including the venture capital firms Andreessen Horowitz, Greylock Partners and Sequoia Capital. Total capital raised is now $230 million.
It has been about 15 months since Okta last raised money. Last year it took a $75 million round led by Sequoia that valued the company at about $600 million. Sequoia is a significant investor, having also led Okta’s D round in 2013 and its C round in 2012. Okta is also notable for being Andreessen Horowitz’s first investment in the cloud software area back in 2010 when the firm led its A round.
Since then the company has expanded into new lines of business, including helping companies manage their mobile devices.
Okta has emerged as a sort of Switzerland-like presence on the cloud software landscape, tracking how popular different applications are based on how widely they’re used and deployed by its customers. Last month it observed — not without controversy — that according to its data, Microsoft’s Office 365 is the mostly widely used cloud software application, beating out Salesforce and Google Apps. Google for Work head Amit Singh took issue with that finding.
Okta CEO Todd McKinnon will be speaking at our Code/Enterprise Series: New York event on Sept. 29. Singh will be there too, along with Shahla Aly, the director at Google for Work.
Registration is open for Code/Enterprise: New York and tickets are still available, but they are going fast. We hope to see you there.
This article originally appeared on Recode.net.
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