OneLogin Scoops $25m In Funding Round Extravaganza
Money needed to meet growing demand for its services, claims CEO
Identity manager OneLogin has nailed down $25m in a Series C funding round to reportedly ‘meet growing market demand’ for its solutions.
OneLogin, launched in 2010, provides cloud-based identity and access management solutions which help firms allow their users to secure access and application rights.
Accelerate growth
Thomas Pedersen, CEO of OneLogin, said that the funding success is a great show of confidence for the firm’s vision.
He said: “We plan to use this funding to further invest in strategic product development and further accelerate our growth.”
The Series C funding round was led by Scale Venture Partners, and the money will also go towards R&D, sales, and marketing efforts.
“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.”
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