OneLogin Raises $25M in Series C Funding
OneLogin, a leading cloud-based identity and access management provider has announced they have raised $25 Million in yet another successful round of funding. This series C round of funding was led by Scale Venture Partners, and will be used for research and development, sales, and marketing efforts. Other participants to the funding include Charles River Ventures, along with Social+Capital partnership.
OneLogin was created in 2010 by current CEO Thomas Pedersen, formally of Dane and Zendesk. This funding brings OneLogin’s total to approximately $45 million to date. He expressed his plans for these funds saying, “We plan to use this funding to further invest in strategic product development and further accelerate our growth.”
Rory O’Driscoll, a founding member and partner at Scale Venture Partners has now joined the OneLogin board as part of this funding round. O’Driscoll has been an active investor for the past 20 years and also sits on a number of other boards including at: Axcient, Bill.com, Box, Chef Software, DataSift, DocuSign, Livescribe, Pantheon, Vantage Media and WalkMe. In the official press release of the investment he expressed his enthusiasm towards OneLogin and is reported as saying, “Five years from now, every enterprise that uses SaaS will have implemented a cloud-based identity solution…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.”
OneLogin currently services around 1,000 enterprise customers across 117 countries. Some of their customers includ: Netflix, Yammer, Steelcase, Reed.co.UK, Disys, and Interactive Intelligence. Additionally, their platform is integrated with thousands of applications including: Microsoft Office 365, Box, Egnyte, EMC Syncplicity, Google Apps, Oracle, CRM On-Demand, Salesforce.com, SuccessFactors, WebEx, Workday, ServiceNow , and Zendesk.
