After a decade in the security space, , a San Francisco cloud-based security company, has launched a $50 million fund to invest in startups that care about the same things they do: identity, security, and privacy.
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Okta plans to invest in startups that are already raising an early-stage round with an existing lead investor. It’s focused on companies that have the “potential to deliver unique value to Okta’s deep network of pre-built integrations,” .
In addition to capital, Okta will offer its investments a range of services, like help with marketing and access to in-house technology and software. Startups can use Okta’s customer and workforce identity products for up to a year,.
Okta Ventures has already invested in one startup: , a block-chain company founded by former executives at , , and . Trusted Key, like Okta, focuses on proofing user identities.
These investments will also strategically benefit Okta.
“Beyond investing in industry-wide innovation, we also recognize how valuable these advancements can be for our customers,” said Frederic Kerrest, Okta’s chief operating officer and co-founder. He added that they expect the companies to “extend” to their platform.
The company, which went public two years ago, is the latest in a series of corporations looking to invest in their younger competition: startups. This month alone, we wrote about several companies investing millions in startups, from Intel Capital, to Chevron, to Starbucks. It’s a trend that we started noticing last year, and it doesn’t seem to be going away anytime soon, so expect a roundup from us.
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