Okta, Inc.

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Okta, Inc.
FormerlySaasure Inc. (2009–2010)
Company typePublic
IndustrySoftware
FoundedJanuary 2009; 17 years ago (2009-01)
Founders
  • Todd McKinnon
  • Frederic Kerrest
Headquarters100 First Plaza
San Francisco, California, U.S.
Area served
Worldwide
Key people
  • Todd McKinnon (CEO)
  • Frederic Kerrest (COO)
ProductsSingle Sign-On
RevenueIncrease US$2.61 billion (2025)
Negative increase US$−74 million (2025)
Increase US$28 million (2025)
Total assetsIncrease US$9.44 billion (2025)
Total equityIncrease US$6.41 billion (2025)
Number of employees
5,914 (2025)
Websiteokta.com
Footnotes / references
Financials as of January 31, 2025.[1]

Okta, Inc. (formerly SaaSure Inc.) is an American identity and access management company based in San Francisco.[2] It provides cloud software that helps companies manage and secure user authentication into applications, and for developers to build identity controls into applications, websites, web services, and devices.[3] It was founded in 2009 and had its initial public offering in 2017, reaching a valuation of over $6 billion.

Products and services

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Okta sells six services, including a single-sign-on service that allows users to log into a variety of systems using a single centralized process. For example, the company claims the ability to log into Gmail, Workday, Salesforce and Slack with one login.[4][5] It also offers API authentication services.[6]

Okta's services are built on the Amazon Web Services cloud.[7]

Okta runs an annual “Oktane” user conference, which in 2018 featured former US President Barack Obama as a keynote speaker.[8][9][10]

History

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File:Okta logo.svg
Logo until 2022

Okta was co-founded in 2009 by Todd McKinnon and Frederic Kerrest, who previously worked together at Salesforce.[11]

In 2015, the company raised US $75 million in venture capital from Andreessen Horowitz, Greylock Partners, and Sequoia Capital, at a total initial valuation of US$1.2 billion.[12]

In 2017, Okta held its initial public offering (IPO), opening on Nasdaq at $17.00 per share, trading up on its first day, to raise an additional US$187 million.[13][14] At the time of its IPO, Sequoia Capital was the biggest shareholder, with a 21.2 percent stake.[15]

In January 2019, Okta reported over 100 million registered users.[16]

In March 2021, Okta signed a definitive agreement to acquire Auth0 for $6.5 billion.[17] The deal closed in May 2021.[18] In August 2021, Okta acquired atSpoke for $90 million.[19] In December 2023, Okta acquired security firm Spera for approximately $100–130 million.[20]

Security incidents

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On March 9, 2021, hacking collective "Advanced Persistent Threat 69420" breached an Okta office network through a security failure in the company's Verkada camera setup.[21] They were able to download security footage from the cameras.[22] One member of the group, Maia Arson Crimew, also revealed that the group had gained root shell access to the network.[23] In a blog post the next-day, Okta Chief Security Officer David Bradbury minimized the root shell as an "internal support tool" of the camera manufacturer Verkada.[22] However, the shell would have given the hackers full access to execute any commands on the network, and Cloudflare admitted that a similar hack by the group on that company's network provided them with the same level of access.[24] Bradbury also said that the threat was contained to an isolated network.

On March 22, 2022, the hacking group LAPSUS$ posted screenshots claiming to be from Okta internal systems.[25] The next day, Okta concluded that a maximum of 366 of their customers data may potentially have been impacted, further stating that the breach originated with a computer used by one of Okta's third-party customer support engineers to which the hackers had access.[26]

In December 2022, Okta's source code was stolen when a hacker gained access to their GitHub repository.[27]

In early October 2023, Okta was notified of a breach resulting in hackers stealing HTTP access tokens from Okta's support platform by BeyondTrust. Okta denied the incident for a number of weeks, but later recognized that a breach had occurred.[28] Customers impacted by the Okta breach included Caesars Entertainment, MGM Resorts International, 1Password and Cloudflare.[29][30][31] On November 29th, 2023, it was known that the security incident affected all Okta customers.[32][33]

References

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  32. ^ Identity management company Okta reveals far more extensive hack of its systems
  33. ^ Okta admits hackers accessed data on all customers during recent breach
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  • Official website
  • Business data for Okta, Inc.:

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