Identity management software provider Okta, which went public two years ago in what was one of the first pure-cloud subscription-based fellowship IPOs, wants to fund the new generations of identity, security and privacy startups.
At its big customer conference Oktane, where the company has also reported a new level of name care at the server stage, chief operating officer Frederic Kerrest( visualized above, right, with chief executive officer Todd McKinnon) will launch a $50 million investment fund meant to back early-stage startups leveraging artificial intelligence, machine learning and blockchain technology.
” We examine this as a natural extension of what we are doing today ,” Okta senior vice president Monty Gray told TechCrunch. Gray was hired last year to oversee corporate improvement, i.e. beef up Okta’s M& A programme.
Gray and Kerrest tell TechCrunch that Okta Ventures will devote fund in existing Okta partners, as well as other companionships in the burgeoning name management ecosystem. The crew managing the fund will look to Okta’s onetime supports, Sequoia, Andreessen Horowitz and Greylock, for aid in the consider sourcing process.