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Software company Okta raises $27m in Sequoia Capital-led Series D

16 Sep 2013

software6_sqVenture capital firm Sequoia Capital has led a $27m Series D round for Okta to fund the cloud-based identity management specialist’s international expansion.

Other existing investors Andreessen Horowitz, Greylock Partners and Khosla Ventures also participated in the round, which follows Okta’s $25m Series C raised last year.

The company has seen its customer base, which now includes MGM Resorts International and London Gatwick Airport, more than double in the past year.

Sequoia Capital partner Doug Leone said, “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.

“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.”

Earlier this month Sequoia and New Enterprise Associates led a $30m Series C round for enterprise social sales platform Hearsay Social, in which both firms were existing investors.

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