Overview

Okta provides identity and access management solutions that help businesses and organizations manage user authentication and authorization securely. Their cloud-based platform includes tools like single sign-on (SSO), multi-factor authentication (MFA), lifecycle management, and API access management, which streamline IT operations and enhance security. Unlike many competitors, Okta focuses on delivering a comprehensive suite of services that cater to a diverse clientele, including large enterprises and government agencies. The company's goal is to ensure that the right individuals have access to the right resources at the right times, addressing the growing need for secure access management in an increasingly digital world.

Simplify's Take

What believers are saying

• Okta's partnership with Incode enhances biometric authentication for improved security.
• The rise of remote work increases demand for Okta's secure access management solutions.
• Okta's subscription model ensures steady and predictable revenue streams.

What critics are saying

• Emerging IAM providers like Incode could erode Okta's market share.
• AI-driven fraudulent activities pose risks to Okta's traditional MFA systems.
• Okta Workflows may face adoption challenges without adequate user education and support.

What makes Okta unique

• Okta offers deep integrations with over 5,000 apps for seamless access.
• The company provides a cloud-based platform for secure user authentication and authorization.
• Okta's no-code identity automation solution, Okta Workflows, simplifies complex identity processes.

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Funding

Total Funding

$1416.3M

Above

Industry Average

Funded Over

9 Rounds

Notable Investors:

Greylock PartnersAndreessen HorowitzSV Angel

Notable Investors:

Greylock PartnersAndreessen HorowitzSV Angel

$1,000,000,000

Post IPO Equity

Jun 2020

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