PRZOOM - /newswire/ -
San Francisco, CA, United States, 2014/12/16 - OneLogin announced it has closed a $25 million Series C funding round, led by Scale Venture Partners, which will be used to accelerate research and development, sales, channel, marketing and support efforts to meet growing market demand.
OneLogin, the innovator in identity management, today announced it has closed a $25 million Series C funding round, led by Scale Venture Partners, which will be used to accelerate research and development, sales, channel, marketing and support efforts to meet growing market demand for OneLogin’s solutions. Rory O’Driscoll, Partner at Scale Venture Partners, will join the OneLogin Board. Previous investors CRV and The Social+Capital Partnership also participated in the current round. This latest investment brings OneLogin’s total funding to $44 million.
“This additional funding is a great vote of confidence in OneLogin’s vision of how companies will put identity first, as well as in the long-term potential of our company to fuel innovation and prepare our customers for a mobile cloud world,” said Thomas Pedersen, Co-founder and CEO of OneLogin. “We plan to use this funding to further invest in strategic product development and further accelerate our growth.”
“Five years from now, every enterprise that uses SaaS will have implemented a cloud-based identity solution,” said Rory O’Driscoll, Partner, Scale Venture Partners. “End users love the simplicity of having a single sign-on for all their applications, while IT can secure and manage the growing number of corporate applications that are running in the cloud. We believe that OneLogin can be the pure-play winner in this market, with its best-of-breed product and a partner-friendly go-to-market model.”
Launched in 2010, OneLogin is the leading provider of a cloud-based identity and access management (IAM) solution, enabling enterprises to secure every application, user and device. The company is now working with more than 1,000 companies from nearly every major industry, including healthcare, financial services, high tech and retail, with users in more than 100 countries worldwide.
OneLogin has been a major driver of the adoption of the SAML single sign-on standard. Out of the 4,000 SaaS applications that are integrated with OneLogin, more than 600 support SAML and half of those have implemented OneLogin’s free SAML toolkit. OneLogin is now building on this success with a new standard for mobile single sign-on called NAPPS (Native Apps), which is part of the OpenID Foundation. “With the NAPPS standard, we are solving the last-mile problem of single sign-on,” explained Pedersen,“and we are looking to build strong partnerships across the entire mobile ecosystem to the benefit of both customers and vendors.”
OneLogin (onelogin.com), the innovator in enterprise identity management, provides the industry’s leading SaaS solution for managing internal and external users across all devices and applications. OneLogin is the only “Challenger” in Gartner’s IDaaS Magic Quadrant, considered a “Major Player” in IAM by IDC, and ranked #1 in Network World Magazine’s review of SSO tools. Our customers include Fortune 5000 companies, multinationals, and hyper-growth start-ups. OneLogin’s cloud identity management ￼ platform provides more than 1,000 customers with secure single sign-on, mobile identity, multi-factor authentication, integration with common directory infrastructures such as Active Directory and LDAP, user provisioning and more. OneLogin is SAML-enabled and pre-integrated with thousands of applications commonly used by today’s enterprises, including Microsoft Office 365, BMC Remedyforce, Box, Egnyte, EMC Syncplicity, Google Apps, Oracle CRM On-Demand, Salesforce.com, SuccessFactors, WebEx, Workday, ServiceNow and Zendesk. OneLogin, Inc. is backed by CRV, The Social+Capital Partnership, and Scale Venture Partners.