Okta Files for IPO, Is Highly Rated by Users

The SSO, or single sign on, market is booming. The market is currently valued at $770 million and experts are predicting that number to grow to more than $6.5 billion by 2022.

Okta, one of the top products in the cloud IAM market, just filed for its initial public offering. Shareholders are looking to raise up to $100 million, according to the Security and Exchange Commission filing.

“Okta is the leading independent provider of identity for the enterprise,” the company said in its filing. “Okta pioneered identity in the cloud. The Okta Identity Cloud is our category defining platform that enables our customers to securely connect people to technology, anywhere, anytime and from any device.”

G2 Crowd’s data supports those statements. In our Cloud Identity and Access Management platform, Okta Platform has 76 reviews (as of March 14, 2017). The next product, Bitium, has only 35. Of those 76 reviews, only four users gave the tool less than four out of five stars.

“With Okta, I don’t really have to worry about logging in, which cuts down on the time I take switching between platforms throughout my workflow.”A mid-market user of Okta

Almost all of its reviews are from users working at mid-market and enterprise-sized companies: Smaller businesses have fewer employees and thus a smaller need for identity management. It currently ranks as the number one cloud IAM software product for enterprise companies, according to G2 Crowd Satisfaction score.

“Critical to our business is their deep integrations with service providers like Microsoft, Google and SalesForce,” Phil Ibarrola, head of technology at Thoughtworks, said in a review. “This allows us to provision accounts directly from Okta rather than using one off, scheduled sync scripts which are running on a server no one knows about. They are also thought leaders in driving identity and strong authentication forward.”

Okta’s platform offers tools including identity directories, lifecycle management and mobility management. The Okta Application Network includes over 4,000 pre-integrated applications including Office465, G Suite and Dropbox. Some of the product’s highest-rated features are bring your own device support (100 percent satisfaction), local access (96 percent), remote access (96 percent) and federation/SAML support (96 percent).

The platform has been slowly adding both IT security and single sign-on features. Users have cited both frequently when describing their experiences. The platform offers tools for identity directories, single sign-on (SSO), lifecycle management and mobility management.

“Where I work, there are a lot of different systems and sometimes it can take forever to be able to go from platform to platform because of all of the login gates,” a reviewer from a mid-sized company said. “With Okta, I don’t really have to worry about logging in, which cuts down on the time I take switching between platforms throughout my workflow.”

Okta has a 91% satisfaction score from enterprise reviewers

Okta has acquired two businesses, Stormpath in March 2017 and Spydersafe in November 2014, both for undisclosed amounts of money. It has also raised $228.5 million in six rounds of funding. Most recently, it garnered $75 million at a nearly $1.2 billion evaluation in September 2015.

As identity management and IT security markets continue to expand in both size and scope, cloud IAM products can help secure data in this age of uncertainty.
If your company hopes to secure data access and simplify the workflow of everyday employees, visit our Cloud Identity and Access Management (IAM) Software Category page and browse some of the industry’s leading products.