Okta lands $16.5 million in new funding

Okta lands $16.5 million in new funding

Summary: Okta has closed $16.5 million in series B financing with Greylock Partners and Khosla Ventures.

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Okta, which offers on-demand identity management services, said Monday it has closed $16.5 million in series B financing with Greylock Partners and Khosla Ventures. Those new investors joined existing investors Andreessen Horowitz and Floodgate.

For Okta, the new funding will accelerate the company's growth plan.

David Weiden of Khosla Ventures and Aneel Bhusri, co-CEO of Workday, will join Okta's board.

Todd McKinnon, CEO of Okta, has said that the company is planning to take on more large enterprise accounts and be a conduit from legacy identity management services and cloud infrastructure.

The funding will come in handy as established players such as VMware eye parts of Okta's turf. In May, Okta launched two editions of its identity management services—a Single Sign-On Edition for $5 a month per user and a Standard Edition at $10 per user a month. The move was designed to court IT admins.

More on Okta:

Topics: Security, Banking, Data Centers

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