Sequoia Capital Leads Series D Round; Okta Appoints Philip Turner As New GM For European Operations
San Francisco, CA – September 13, 2013 — Today, Okta announced today that it closed a $27 million Series D funding round led by returning investor Sequoia Capital. Existing investors Andreessen Horowitz, Greylock Partners and Khosla Ventures all participated. Okta will use the funds to build on its significant momentum in North America and to expand internationally, led by the company's first European general manager.
This latest investment comes on the heels of Okta's $25 million Series C round in 2012, and serves as a strong endorsement of the company's vision to securely connect the world's people, applications and devices. As the industry's leading cloud-based identity management platform, Okta helps IT leaders centrally manage and simplify end-user access across a rapidly increasing set of mobile, cloud-based and on-premises applications.
"Businesses are quickly recognizing the opportunities afforded by cloud-based and mobile IT strategies. For most, the question is no longer why, but how they can securely and quickly adopt new and disruptive technologies," said Doug Leone, partner at Sequoia Capital. "Okta has proven that cloud-based identity management is essential to helping businesses make this critical transition. Todd and his team have built a great product and company, and we're excited to support their continued success."
European GM to Lead International Expansion
This latest financing round will help fuel the company's international expansion. Philip Turner joins Okta as the company's first European general manager, bringing 20 years of experience building and scaling enterprise software businesses across the UK and mainland Europe.
"Most European organizations (more than 80 percent) already make use of some form of clo