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Cloud-based identity and access management (IAM) provider OneLogin announced that it has raised $100 million in growth financing. The company has now secured over $170 million in funding to date.
Founded in 2009, OneLogin provides enterprise-level businesses and organizations with a Unified Access Management (UAM) platform to unlock apps, devices, and data.
The recently closed $100 million financing was led by new investors Greenspring Associates and Silver Lake Waterman. Existing investors CRV, Scale Venture Partners, and Blue Cloud Ventures participated as well.
With over 2,500 enterprises globally securing their applications with OneLogin, the company’s annual recurring revenue (ARR) nearly tripled over the last three years.
OneLogin has around 250 employees globally.
With the new capital, the company wants to accelerate adoption of its new products, including Multi-Factor Authentication (MFA), and to serve enterprises in the UAM category. The provider also plans further expansion in North America and Europe.
With Unified Access Management, OneLogin says, organizations can manage access for SaaS and on-premise application environments, and can also extend Access Management to networks and devices using cloud infrastructure.
“Every business needs Unified Access Management, and our solution is mission critical for all of our customers across both cloud and hybrid cloud environments. Our relentless focus on customer service coupled with this significant capital infusion supports OneLogin’s ongoing growth and investment,” said Brad Brooks, CEO of OneLogin.
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Ionut Arghire is an international correspondent for SecurityWeek.
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