CEO Todd McKinnon, a former VP of Engineering at Salesforce (NYSE: CRM), has raised $11M in funding for Okta a new company that provides on-demand identity and access management service that helps enterprises accelerate the adoption of their cloud and web-based applications. According to this Business Wire news release, Okta empowers IT to centrally secure and control access to applications, provides end users single sign-on for all of their web apps, and gives the business the insight it needs to maximize ROI while minimizing risk.
"'As businesses shift more critical applications to the cloud, they are challenged to maintain the same degree of control that they have with their on-premise applications'
"The rise of Software as a Service has made it easy for companies to adopt a wide variety of business critical applications but has also introduced a new set of challenges for both IT and end users. With Okta, IT can address the security and management challenges by integrating cloud applications with existing directory services, controlling access across applications, quickly provisioning and de-provisioning employees, and centrally analyzing usage across all applications. For end users, Okta provides single sign-on across all of their applications, eliminating password fatigue and improving their productivity."