Okta, Inc.

{{Infobox company

| name = Okta, Inc.

| logo = Okta logo (2023).svg{{!}}class=skin-invert-image

| logo_caption = Logo since 2022

| image = 100 First Plaza from Salesforce Park.jpg

| image_caption = Headquarters at 100 First Plaza in San{{nbsp}}Francisco

| trading_name =

| native_name =

| native_name_lang =

| romanized =

| former_name = Saasure Inc. (2009–2010)

| type = Public

| traded_as = {{ubl|class=nowrap|{{NASDAQ|OKTA}} (Class A)|Russell 1000 component}}

| industry = Software

| genre =

| fate =

| predecessor =

| successor =

| founded = {{Start date and age|2009|01}}

| founders = {{ubl|Todd McKinnon|Frederic Kerrest}}

| defunct =

| hq_location = 100 First Plaza
{{nowrap|San Francisco, California, U.S.}}

| location_city =

| location_country =

| locations =

| area_served = Worldwide

| key_people = {{ubl|Todd McKinnon (CEO)|Frederic Kerrest (COO)}}

| products = Single Sign-On

| production =

| services =

| revenue = {{increase}} {{US$|2.61 billion|link=yes}} (2025)

| operating_income = {{nowrap|{{increasenegative}} US$−74 million (2025)}}

| net_income = {{nowrap|{{increase}} US$28 million (2025)}}

| assets = {{nowrap|{{increase}} US$9.44 billion (2025)}}

| equity = {{nowrap|{{increase}} US$6.41 billion (2025)}}

| owner =

| num_employees = 5,914 (2025)

| parent =

| divisions =

| subsid =

| website = {{URL|okta.com}}

| footnotes = Financials {{as of|2025|1|31|lc=y|df=US}}.{{Cite web|url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1660134/000166013425000049/okta-20250131.htm|title=Okta Form 10-K for the fiscal year ended January 31, 2025 |date=March 5, 2025}}

}}

Okta, Inc. (formerly SaaSure Inc.) is an American identity and access management company based in San Francisco.{{Cite news|url=https://www.barrons.com/articles/okta-ceo-is-feeling-optimistic-looks-like-investors-are-too-1512597027|title=Okta CEO Is Feeling Optimistic. Looks Like Investors Are Too|last=Rivas|first=Teresa|date=December 6, 2017|work=Barron's|access-date=April 8, 2018|language=en-US}} It provides cloud software that helps companies manage and secure user authentication into applications, and for developers to build identity controls into applications, websites, web services, and devices.{{Cite news|url=https://www.forbes.com/sites/adrianbridgwater/2018/05/23/okta-insists-identity-goes-beyond-passwords/|title=Okta Insists Identity 'Goes Beyond' Passwords|last=Bridgwater|first=Adrian|date=May 23, 2018|work=Forbes|access-date=March 6, 2019|language=en-US}} It was founded in 2009 and had its initial public offering in 2017, reaching a valuation of over $6 billion.

Products and services

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.{{Cite news|url=https://www.barrons.com/articles/okta-ceo-we-exist-because-its-a-heterogenous-world-1516661447|title=Okta CEO: 'We Exist Because It's a Heterogenous World'|last=Ray|first=Tiernan|access-date=2018-04-08|language=en-US}}{{Cite news|url=https://www.barrons.com/articles/okta-as-big-a-deal-as-oracle-someday-1497048753|title=Okta: A Bigger Deal Than Oracle Someday?|last=Ray|first=Tiernan|access-date=2018-04-08|language=en-US}} It also offers API authentication services.{{Cite news|url=http://fortune.com/2017/04/07/okta-ipo-todd-mckinnon/|title=Okta Wants To Go Big And Go It Alone in Enterprise Software|work=Fortune|access-date=2018-04-08|language=en}}

Okta's services are built on the Amazon Web Services cloud.{{Cite news|url=http://fortune.com/2017/03/13/okta-cybersecurity-public/|title=This Enterprise Software Unicorn Just Filed to Go Public|work=Fortune|access-date=2018-04-08|language=en}}

Okta runs an annual “Oktane” user conference, which in 2018 featured former US President Barack Obama as a keynote speaker.{{Cite news|url=https://www.forbes.com/sites/adrianbridgwater/2018/04/04/inside-privacy-okta-ceo-takes-hardcore-line-on-identity-management/2/|title=Inside Privacy: Okta CEO Takes Hardcore Line On Identity Management|last=Bridgwater|first=Adrian|work=Forbes|access-date=2018-04-08|language=en}}{{Cite news|url=https://www.businessinsider.com/oktane-18-barack-obama-todd-mckinnon-2018-5|title=I followed the CEO of $6 billion Okta around and learned the secrets of a tech conference that landed President Obama as a speaker|last=Bort|first=Julie|work=BusinessInsider|access-date=2019-06-26|language=en}}{{Cite news|url=https://www.sfchronicle.com/business/article/Barack-Obama-is-speaking-at-a-tech-conference-12928567.php|title=Barack Obama is speaking at a tech conference, but not one you'd expect|last=Thadani|first=Trisha|work=SFChronicle|access-date=2019-06-26|language=en}}

History

File:Okta logo.svg

Okta was co-founded in 2009 by Todd McKinnon and Frederic Kerrest, who previously worked together at Salesforce.{{Cite news |title=Okta CEO McKinnon on the Tech IPO Landscape and Data Security |language=en |url=https://www.bloomberg.com/news/videos/2018-03-27/okta-ceo-mckinnon-on-the-tech-ipo-landscape-and-data-security-video |access-date=2018-04-08}}

In 2015, the company raised US $75 million in venture capital from Andreessen Horowitz, Greylock Partners, and Sequoia Capital, at a total initial valuation of US$1.2 billion.{{Cite news |last=Ovide |first=Shira |date=2015-09-08 |title=Okta Raises $75 Million, Boosting Valuation to Nearly $1.2 Billion |language=en-US |website=WSJ |url=https://blogs.wsj.com/digits/2015/09/08/okta-raises-75-million-boosting-valuation-to-nearly-1-2-billion/ |access-date=2018-04-08}}

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.{{Cite news |title=Okta shares soar nearly 39 percent in first day of trading |website=www.bizjournals.com |url=https://www.bizjournals.com/sanfrancisco/news/2017/04/07/okta-shares-debut.html |access-date=2018-04-08}}{{Cite news |last=Balakrishnan |first=Anita |date=2017-04-07 |title=Okta skyrockets more than 38% after IPO |work=CNBC |url=https://www.cnbc.com/2017/04/07/okta-ipo-opening-stock-price.html |access-date=2018-04-08}} At the time of its IPO, Sequoia Capital was the biggest shareholder, with a 21.2 percent stake.{{Cite web |title=Okta shares soar nearly 39 percent in first day of trading |url=https://www.bizjournals.com/sanfrancisco/news/2017/04/07/okta-shares-debut.html |access-date=2018-04-08 |website=www.bizjournals.com}}

In January 2019, Okta's CEO announced that the company has over 100 million registered users.{{Cite web |last=Gurdus |first=Elizabeth |date=2019-01-24 |title=Okta CEO: We now have over 100 million registered users |url=https://www.cnbc.com/2019/01/24/okta-ceo-we-now-have-over-100-million-registered-users.html |access-date=2019-01-25 |website=www.cnbc.com}}

In March 2021, Okta signed a definitive agreement to acquire Auth0 for $6.5 billion.{{Cite web |last=Dignan |first=Larry |title=Okta and Auth0: A $6.5 billion bet that identity will warrant its own cloud |url=https://www.zdnet.com/article/okta-and-auth0-a-6-5-billion-bet-that-identity-will-warrant-its-own-cloud/ |access-date=2021-03-09 |website=ZDNet |language=en}} The deal closed in May 2021.{{cite news |title=Okta's Auth0 deal closes: Inside the 8-year, $6.5 billion courtship |url=https://fortune.com/2021/05/03/okta-auth0-deal-stock-login-acquisition |date=May 3, 2021 |access-date=23 June 2022 |work=Fortune |archive-url=https://web.archive.org/web/20210504143735/https://fortune.com/2021/05/03/okta-auth0-deal-stock-login-acquisition |archive-date=4 May 2021}} In August 2021, Okta acquired atSpoke for $90 million.{{Cite web |last=Novinson |first=Michael |title=Okta Quietly Buys Startup atSpoke to Fuel Identity Governance {{!}} CRN |url=https://www.crn.com/news/security/okta-quietly-buys-startup-atspoke-to-fuel-identity-governance |access-date=2024-07-16 |website=www.crn.com}} In December 2023, Okta acquired security firm Spera for approximately $100–130 million.{{Cite web |last= |first= |date=2023-12-19 |title=Okta snatches up security firm Spera, reportedly for over $100M |url=https://techcrunch.com/2023/12/19/okta-snatches-up-security-firm-spera-reportedly-for-over-100m/ |access-date=2023-12-19 |website=TechCrunch |language=en-US}}

Security incidents

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.{{Cite news |last=Turton |first=William |date=2021-03-09 |title=Hackers Breach Thousands of Security Cameras, Exposing Tesla, Jails, Hospitals |language=en |work=Bloomberg |url=https://www.bloomberg.com/news/articles/2021-03-09/hackers-expose-tesla-jails-in-breach-of-150-000-security-cams |access-date=2021-03-10}} They were able to download security footage from the cameras.{{Cite web |last=Bradbury |first=David |date=2021-03-10 |title=A CSO's perspective on the recent Verkada cyber attack |url=https://sec.okta.com/articles/2021/03/csos-perspective-recent-verkada-cyber-attack |url-status=live |archive-url=https://web.archive.org/web/20210317003532/https://sec.okta.com/articles/2021/03/csos-perspective-recent-verkada-cyber-attack |archive-date=2021-03-17 |access-date=2021-03-16 |website=Okta Security}} One member of the group, Maia Arson Crimew, also revealed that the group had gained root shell access to the network.{{Cite news |last=Paresh |first=Dave |date=2021-03-10 |title=Tesla says Shanghai factory not hacked after breach of Verkada surveillance cameras |language=en |work=Reuters |url=https://www.reuters.com/article/us-verkada-breach-idTRNIKBN2B2048 |access-date=2021-03-17}} 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. 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.{{Cite web |last=Graham-Cumming |first=John |date=2021-03-10 |title=About the March 8 & 9, 2021 Verkada camera hack |url=https://blog.cloudflare.com/about-the-march-8-9-2021-verkada-camera-hack/ |url-status=live |archive-url=https://web.archive.org/web/20210310231522/https://blog.cloudflare.com/about-the-march-8-9-2021-verkada-camera-hack/ |archive-date=2021-03-10 |access-date=2021-03-17 |website=The Cloudflare Blog |language=en}} 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.{{cite news |title=Authentication firm Okta probes report of digital breach |work=CNN |url=https://edition.cnn.com/2022/03/22/tech/okta-report-of-breach/index.html |access-date=22 March 2022}} 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.{{cite web |last1=Camacho |first1=Antonio Ruiz |date=2022-03-23 |title=Okta Says Hundreds of Customers May Have Been Exposed by January Breach |url=https://www.cnet.com/news/privacy/okta-says-hundreds-of-customers-may-have-been-exposed-by-january-breach/ |work=CNET |language=en}}

In December 2022, Okta's source code was stolen when a hacker gained access to their GitHub repository.{{cite web | url=https://www.engadget.com/okta-stolen-source-code-205601214.html | title=Okta had another security incident, this time involving stolen source code | date=21 December 2022 }}

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.{{cite web |url=https://krebsonsecurity.com/2023/10/hackers-stole-access-tokens-from-oktas-support-unit/ |title=Hackers Stole Access Tokens from Okta's Support Unit |work=krebsonsecurity|date=20 October 2023 }} Customers impacted by the Okta breach included Caesars Entertainment, MGM Resorts International, 1Password and Cloudflare.{{Cite web |last=Goswami |first=Rohan |date=2023-10-23 |title=Okta cybersecurity breach wipes out more than $2 billion in market cap |url=https://www.cnbc.com/2023/10/23/okta-hack-wipes-out-more-than-2-billion-in-market-cap.html |website=CNBC |language=en}}{{Cite web |last=Zaman |first=Sourov |date=2023-10-20 |title=How Cloudflare mitigated yet another Okta compromise |url=https://blog.cloudflare.com/how-cloudflare-mitigated-yet-another-okta-compromise/

|archive-url=https://web.archive.org/web/20231024162324/https://blog.cloudflare.com/how-cloudflare-mitigated-yet-another-okta-compromise/ |archive-date=2023-10-24 |access-date=2023-10-25 |website=The Cloudflare Blog |language=en}}{{cite web | url=https://therecord.media/1password-cloudflare-affected-by-okta-incident |title=How 1Password, Cloudflare affected by Okta compromise | first=JONATHAN | last=GREIG |access-date=2023-10-25 |date=2023-10-24}} On November 29th, 2023, it was known that the security incident affected all Okta customers.[https://edition.cnn.com/2023/11/29/business/okta-reveals-extensive-hack/index.html Identity management company Okta reveals far more extensive hack of its systems][https://techcrunch.com/2023/11/29/okta-admits-hackers-accessed-data-on-all-customers-during-recent-breach/ Okta admits hackers accessed data on all customers during recent breach]