IAM Provider OneLogin Gets $13 Million in Funding
The company says the funds will be used to continue its expansion in the U.S., Europe and Asia-Pacific, and to accelerate talent acquisition.
Identity and access management (IAM) provider OneLogin recently announced a $13 million round of Series B funding from lead investor The Social + Capital Partnership, alongside returning investor Charles River Ventures.
Mamoon Hamid, general partner at The Social + Capital Partnership, will be joining OneLogin's board of directors.
"The growth and rapid adoption of hundreds of SaaS products in the enterprise has made OneLogin's Identity Management a necessity," Hamid said in a statement.
The company says it will use the funds to continue its expansion in the U.S., Europe and Asia-Pacific, and to accelerate talent acquisition in those markets.
OneLogin's IAM solutions, which include strong authentication, single sign-on, federation, directory integration, user provisioning and reporting, are designed to help enterprises manage employee and external user identities and control their access to applications both in the cloud and behind the firewall.
The company's customers include AAA, Conde Nast, Dropbox, Netflix, Pandora, PBS, Pinterest, Riot Games, Steelcase, Tableau Software, Tumblr, Uber, WestJet, Yammer and Zendesk.
"IDC forecasts strong growth in the IAM SaaS market: from $702.7 million in 2011, reaching $1.4 billion by 2016," IDC research director Sally Hudson said in a statement. "We expect demand for cloud-based IAM services like OneLogin to be strong, driven in large part by OneLogin's ease of deployment as well as the burgeoning number of cloud applications now being adopted by enterprises across the globe."
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