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.
Thomas Pedersen, CEO of OneLogin, said that the funding success is a great show of confidence for the firm’s vision.
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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