Footnotes / references Financials as of January 31, 2024[update].
Okta, Inc. (formerly SaaSure Inc.) is an American identity and access management company based in San Francisco.[1] It provides cloud software that helps companies manage and secure user authentication into applications, and for developers to build identity controls into applications, website, web services, and devices.[2] It was founded in 2009 and had its initial public offering in 2017, reaching a valuation of over $6 billion.
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.[3][4] It also offers API authentication services.[5]
In 2017, Okta's initial public offering priced 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's CEO announced that the company has over 100 million registered users.[16]
In August 2020, Okta announced that it plans to let most of its employees work remotely on a permanent basis as a result of the COVID-19 pandemic.[17]
In March 2021, Okta signed a definitive agreement to acquire Auth0 for $6.5 billion.[18] The deal closed in May 2021.[19]
In August 2021, Okta signed a definitive agreement to acquire atSpoke for $90 million.[20]
In December 2023, Okta acquired security firm Spera for approximately $100–130 million.[21]
On March 9, 2021, hacking collective "Advanced Persistent Threat 69420" breached an Okta office network through a security failure in the company's Verkada camera setup.[22] They were able to download security footage from the cameras.[23] One member of the group, Maia Arson Crimew, also revealed that the group had gained root shell access to the network.[24] In a blog post the next-day, Okta Chief Security Officer David Bradbury minimized the root shell as an "internal support tool" of the camera manufacturer Verkada.[23] However, the shell would have given the hackers full access to execute any commands on the network, and Cloudflare admitted that a similar hack by the group on that company's network provided them with the same level of access.[25] Bradbury also said that the threat was contained to an isolated network.
On March 22, 2022, the hacking group LAPSUS$ posted screenshots claiming to be from Okta internal systems.[26] 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.[27]
In December 2022, Okta's source code was stolen when a hacker gained access to their GitHub repository.[28]
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.[29] Customers impacted by the Okta breach included Caesars Entertainment, MGM Resorts International, 1Password and Cloudflare.[30][31][32] On November 29th, 2023, it was known that the security incident affected all Okta customers.[33][34]
US$2.26 billion (2024)
US$−516 million (2024)
US$8.99 billion (2024)
