Charles River Ventures and a group of OneLogin’s existing investors joined to provide the cloud-based identity and access management firm $1.5 million in its Series A round. The company is based in Los Angeles, Calif.
Charles River Ventures Leads Series A Financing Round for Cloud-based IAM Provider
LOS ANGELES, June 24, 2011 — OneLogin, a cloud-based Identity and Access Management (IAM) provider, today announced the closing of a $1.5M series A round of funding from existing investors Charles River Ventures. The new funds will be used to expand the engineering, sales and product development functions of OneLogin, further solidifying OneLogin as the fastest path to identity management in the cloud.
Enterprises can leverage OneLogin to extend their existing directory infrastructure into the cloud and regain much of the control they had when corporate data resided behind the firewall. OneLogin allows them to centralize access control, enforce securitypolicies and automate user management in target applications – all with a complete, detailed audit trail for compliance and reporting purposes.
“As the SaaS migration landslide gains momentum, executives are becoming increasingly concerned about the security of their most sensitive data,” said Devdutt Yellukar, Charles River Ventures partner. “OneLogin’s easy-to-use solution makes enterprise class identity management available to any company regardless of size.”
Over the past year, OneLogin has gained significant traction in the market with a growing list of partners and customers across a wide range of industries including Yammer, Colby Community College and Transwest. OneLogin’s free Security Assertion Markup Language (SAML) toolkit has enabled single sign-on (SSO) for leading software-as-a-service (SaaS) vendors, including Zendesk, SugarCRM and KnowledgeTree.
“We founded OneLogin on the premise that small and mid-sized businesses should have access to the same level of security as large enterprise companies,” said Thomas Pedersen, OneLogin CEO and founder. “With this funding round, we’ll continue our mission of democratizing IAM by making it instantly available to organizations of any size.”
OneLogin offers a rich set of APIs and widgets that ensure deep enterprise integration and enable SSO functionality for all applications, including those behind the firewall. Implementation can be completed in less than an hour by using OneLogin’s free and open source SAML toolkit. OneLogin encourages interested SaaS vendors to fill out a short and simple online form for more information.
About OneLogin, Inc.
OneLogin provides the fastest path to IAM in the cloud with an on-demand solution consisting of single sign-on, password management, multi-factor authentication, directory integration, user provisioning and an application catalog with over 1,700 pre-integrated applications, including Salesforce, Google Apps, WebEx, SugarCRM, Box.net, Workday, Netsuite, DocuSign, LotusLive, Cornerstone OnDemand, AtTask, Yammer and Zendesk. OneLogin, Inc. is backed by Charles River Ventures. Free Trial Available at: www.onelogin.com | Twitter:@onelogin