OneLogin has secured a $13m round of Series B venture capital from lead investor The Social+Capital Partnership alongside returning investor Charles River Ventures.
OneLogin will use the funds to continue its expansion in the United States, Europe and Asia-Pacific and to accelerate talent acquisition in these markets.
OneLogin provides a modern identity and access management solutions, which enables enterprises to easily manage employee and external user identities and control their access to applications in the cloud and behind the firewall.
OneLogin has seen rapid adoption among companies, ranging from fast-growing start-ups like Dropbox, Pandora, Pinterest, Riot Games, Tableau Software and Tumblr to established organisations such as AAA, Condé Nast, Gensler, Netflix, News Corp and PBS. OneLogin's largest customer has more than one million users deployed.
"The growth and rapid adoption of hundreds of SaaS products in the enterprise has made OneLogin's Identity Management a necessity." said Mamoon Hamid, general partner at The Social+Capital Partnership, who will be joining the company's Board of Directors.
"Having invested in two of the most broadly used freemium applications in the enterprise, Box and Yammer, I was drawn to the freemium approach OneLogin has taken to gain rapid traction with a large number of enterprise users. We are leading this round because we see an enormous opportunity to build on this traction across companies of all sizes."
"Many existing platforms view the cloud as a new opportunity and bring along issues tied to legacy infrastructure, but OneLogin is uniquely positioned because they have always been cloud-based, yet with a strong focus on integrating with an enterprise's on-premises security model," said Andrew Kellett, principal IT security analyst at Ovum. "OneLogin has kept overhead low and been able to focus on the goal of giving users more secure and straightforward access to the cloud, while also removing the need for further authentication."
OneLogin's track record of industry firsts is extensive and includes native iPad app for identity management, Federated Cloud Search that enables secure, real-time search across public cloud applications such as Box, Dropbox, Google Apps, Salesforce, Yammer and Zendesk, mobile one-time password app with Push and Real-time user synchronization between Active Directory and cloud apps.
"Customers are increasingly turning to OneLogin for features that cannot be found anywhere else in the market," said Thomas Pedersen, co-founder and chief executive officer at OneLogin. "Since founding the company, we have maintained an agility that has fostered ongoing innovation, allowing us to provide a highly differentiated solution that is exciting enterprises around the world".
The company also announced that, in addition to Hamid, Amnon Landan has joined OneLogin's Board of Directors. Landan is former chairman and chief executive officer of Mercury Interactive. Mercury Interactive was a provider of enterprise IT optimization software which was bought by Hewlett-Packard for $4.5 billion in 2006.