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Corporate Venture
okta.com/okta-ventures

Investments

33

Portfolio Exits

3

Funds

3

Partners & Customers

4

About Okta Ventures

Okta Ventures is the venture arm of Okta, an independnt provider of identity for enterprises. It invests in technologies aimed at solving challenges across the modern technology landscape, focusing specifically on identity, security, and privacy.

Headquarters Location

301 Brannan Street 1st Floor

San Francisco, California, 94107,

United States

888-722-7871

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CB Insights Intelligence Analysts have mentioned Okta Ventures in 1 CB Insights research brief, most recently on Nov 22, 2021.

Latest Okta Ventures News

Post-pandemic work drives app diversity

Mar 20, 2023

Okta’s annual Businesses at Work report provides a comprehensive snapshot of modern workforces and the tools they use to maximise productivity. This year’s report highlights how businesses and individuals have adapted their app usage to accommodate changing work styles and travel restrictions caused by the pandemic, with security apps, electronic signature apps, and cloud platforms leading the way as the fastest-growing app categories in APAC based on unique users. Most popular app categories According to Okta’s Businesses at Work 2023 report, travel apps saw significant growth in 2022 as business trips resumed globally with the lifting of pandemic restrictions. These apps experienced a 43 per cent YoY growth in the number of customers and a staggering 197 per cent growth in unique users across all industries. Additionally, business supplies emerged as a top category with a 35 per cent increase in customers and a 77 per cent increase in unique users worldwide. Design software also continued its upward trend and ranked as the third fastest-growing category worldwide with a 31 per cent YoY growth by the number of customers, following a chart-topping 39 per cent YoY growth last year. In Asia-Pacific, Australia saw a 27 per cent YoY customer growth in the design software category. Furthermore, the Asia-Pacific region is driving significant growth in security tools, with an 85 per cent YoY increase in unique users. Electronic signature tools and developer tools also saw significant growth, increasing by 61 per cent and 55 per cent YoY, respectively. Cloud platforms grew by 50 per cent YoY in unique users, while the use of analytics tools increased by 47 per cent YoY. The hottest apps: In APAC, Microsoft 365 is the most popular app by a number of users. Amazon Web Services ranks second, and Google Workspace comes in third. The APAC region is heavily focused on security and developer tools this year. Jamf Pro, Netskope, LastPass, and ZScaler battled for supremacy in the security category: Jamf Pro posted 57 per cent YoY customer growth and 118 per cent YoY growth in unique users. Globally this year, the fastest-growing apps feature a diverse cast, providing expertise in security, communication, corporate travel, HR, cloud-app development, and collaboration. Top among the fastest growing apps globally is Kandji, an Apple mobile device management tool, which posted 172 per cent YoY growth by a number of customers. Kandji, an Okta Ventures portfolio company, enables IT administrators to automate repetitive tasks and introduce new features to the device management space. Growth in multi-cloud usage Transformation efforts that accelerated during the pandemic have helped businesses get the boost they need for more efficient hybrid workforce support, more reliable security, and more seamless global collaboration. In this regard, the growth in multi-cloud adoption that has been clear since 2017 shows no sign of slowing down, and the favourite pairing of Amazon Web Services (AWS) and Google Cloud Platform (GCP) continues to grow. While AWS remains dominant as both a single-cloud platform and as part of many organisations’ multi-cloud strategies, there is also exciting growth from other providers on the horizon. Google Cloud Platform is growing at an impressive clip, with a 40 per cent YoY increase in a number of customers and a 60 per cent increase in unique users. Microsoft Azure grew its worldwide customer base by 10 per cent YoY and its unique users by 16 per cent YoY. Apps for our lives The line between work and personal life is blurrier than ever, and so are apps that offer combined corporate and personal usage. Digital payment gateway Paypal and newcomers Venmo and Stripe are finding strong footing in top finance and banking apps. For health and wellness, FitBit is topped by a number of customers globally. Interestingly, the two fastest growing apps in this category by the number of customers — LiveWell (up 32 per cent YoY by a number of customers) and Modern Health (up 30 per cent YoY by a number of customers) — focus on mental health. In the world of social media, LinkedIn holds the top spot, while TeamSnap is the fastest growing by number of customers. Security at work Remote and hybrid workforces are here to stay, so protecting network access from the home office and places such as a coffee shop is a top priority for many companies. Businesses are stepping up higher-assurance factors in their MFA deployments as they move away from perimeter defenses that are no longer adequate for dynamic, cloud-driven environments. Okta’s study has found that low-assurance security questions globally are experiencing the slowest growth across the board (3 per cent YoY by number of customers), while high-assurance security keys/biometrics (including WebAuthentication) are growing more quickly — 46 per cent YoY growth by a number of customers, and a chart-topping 211 per cent by unique users. Okta customers are approaching Zero Trust strategically with solutions that target user, device, and network perspectives. In the network context, we’re seeing a 147 per cent increase in the use of risk-based policies over the past two years. From a user context, we’re seeing 60 per cent growth in the number of customers implementing WebAuthn, a new global standard for password-free web authentication. And on the device front, we’re seeing a 21 per cent increase in the number of customers deploying device-trust configurations. “The Businesses at Work report delivers unique insights into the ways businesses have used apps to adapt to the new workstyle dynamics in the post-pandemic era,” said Goodman. “In this new normal, it will be crucial to ensure these apps are resilient, so they can be accessed reliably and securely to drive business goals over the long term.” The Businesses at Work 2023 report is based on anonymised data from Okta’s more than 17,000 global customers and the Okta Integration Network, which includes over 7,000 integrations with cloud, mobile, web apps, and IT infrastructure providers. It tells a complex story of the growing and changing world of app usage. The study included key Asia Pacific markets like Singapore, Hong Kong, Japan, China, India, ANZ, South Korea, Philippines, Malaysia and several other countries in Southeast Asia and IndoChina. “As economies opened up in the past year, businesses and their users turned to a wide range of apps to get work done, from travel apps to book business trips to security tools to shore up cyber defenses,” said Ben Goodman, Okta’s Senior Vice President and General Manager for Asia Pacific . “This is a reflection of the new work environments that have emerged, along with the needs of a hybrid work arrangement that is here to stay.” To learn more about the current state of identity in APAC and dive deeper into findings from the Businesses at Work 2023 report, visit here . For further information, click here. Keep up to date with our stories on  LinkedIn ,  Twitter ,  Facebook  and  Instagram . What do you think?

Okta Ventures Investments

33 Investments

Okta Ventures has made 33 investments. Their latest investment was in Pangea as part of their Series B on November 11, 2022.

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Okta Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/30/2022

Series B

Pangea

$26M

Yes

13

11/7/2022

Seed VC

Surf

Yes

11.2 Capital, Mango Capital, Okta Ventures, and Undisclosed Angel Investors

5

11/1/2022

Seed VC

AiPrise

$2M

Yes

2

10/17/2022

Series B - II

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10

9/14/2022

Series A

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$99M

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10

Date

11/30/2022

11/7/2022

11/1/2022

10/17/2022

9/14/2022

Round

Series B

Seed VC

Seed VC

Series B - II

Series A

Company

Pangea

Surf

AiPrise

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Amount

$26M

$2M

$99M

New?

Yes

Yes

Yes

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Co-Investors

11.2 Capital, Mango Capital, Okta Ventures, and Undisclosed Angel Investors

Sources

13

5

2

10

10

Okta Ventures Portfolio Exits

3 Portfolio Exits

Okta Ventures has 3 portfolio exits. Their latest portfolio exit was VNDLY on November 18, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/18/2021

Acquired

$99M

7

7/13/2021

Acquired

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$99M

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10

7/18/2019

Acquired

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$99M

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10

Date

11/18/2021

7/13/2021

7/18/2019

Exit

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

7

10

10

Okta Ventures Fund History

3 Fund Histories

Okta Ventures has 3 funds, including Okta Ventures Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/3/2019

Okta Ventures Fund

Early-Stage Venture Capital

Open

$50M

1

Okta for Good Fund

10

Okta Ventures

10

Closing Date

4/3/2019

Fund

Okta Ventures Fund

Okta for Good Fund

Okta Ventures

Fund Type

Early-Stage Venture Capital

Status

Open

Amount

$50M

Sources

1

10

10

Okta Ventures Partners & Customers

4 Partners and customers

Okta Ventures has 4 strategic partners and customers. Okta Ventures recently partnered with Privy on February 2, 2023.

Date

Type

Business Partner

Country

News Snippet

Sources

2/20/2023

Partner

United States

Privy Works on New Collaboration to Start Global Expansion

Marshall Pribadi , Privy Co-Founder , said this investment and strategic partnership allow Privy and Okta Ventures to expand their global reach .

1

11/9/2022

Partner

United States

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10

11/10/2021

Partner

Spain

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10

8/27/2020

Client

France, and United States

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10

Date

2/20/2023

11/9/2022

11/10/2021

8/27/2020

Type

Partner

Partner

Partner

Client

Business Partner

Country

United States

United States

Spain

France, and United States

News Snippet

Privy Works on New Collaboration to Start Global Expansion

Marshall Pribadi , Privy Co-Founder , said this investment and strategic partnership allow Privy and Okta Ventures to expand their global reach .

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Sources

1

10

10

10

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