OneLogin, a cloud identity and access management solution, has raised $22.5m in fresh funding.
The round included investment from CRV and other new and existing investors, taking the company’s fundraising total to $72.5m. In May last year, OneLogin raised $10m from CRV, Social Capital, Scale Venture Partners and Blue Cloud Ventures.
San Francisco, CA-based OneLogin provides a Unified Access Management platform which enables organisations to access the apps and data anytime, everywhere. The platform secures millions of identities for thousands of companies around the globe, spans both cloud and on-prem environments, and unifies all users, devices, and applications across the enterprise.
It provides is solution to a range of industries including financial services, education, retail, HR Integration, salesforce, manufacturing and law firms.
Financial services companies such as banks, wealth management firms, and insurance companies use the platform to simplify application access for their fleets of finance professionals and customer care personnel, all while protecting their data and meeting compliance requirements.
Whether it’s a large brokerage firm or a small innovative fintech company without dedicated IT resources, OneLogin claims to helps balance the requirement for both productivity and security.
It enables secure access to all applications using Single Sign-On (SSO) with Multi-Factor Authentication via OneLogin’s portal. Access is granted automatically and in real-time, using a role-based access control solution with auditing and monitoring for compliance and peace of mind.
“Unified Access Management represents a $20bn market opportunity growing 15% year over year, and OneLogin is a leading player in addressing this massive market,” said Devdutt Yellurkar of CRV, which participated in the round. “I am excited about the momentum Brad Brooks and his team are driving and expect them to continue on their hyper-growth trajectory.”
Following the investment, the company has also opened a new Seattle-area development center in Redmond, Washington. It intends to use the new funds to continue to expand operations and its business reach.
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