OneLogin raises additional $22.5M in latest financing round, expands its operations worldwide and is on track to have the best two quarters in the history of the company
The new growth comes as OneLogin continues to disrupt the access management sector with its creation of an entirely new category, Unified Access Management (UAM), an emerging $20b industry fueled by customers wanting to simplify operations. Raising $22.5M in the latest funding round and significant investment in office expansions worldwide has put OneLogin in a strong position to meet the significant rise in demand for its solutions.
Over 90% of UK and US enterprises have a digital transformation strategy, with the majority (89% in the UK and 94% in the US) stating Identity and Access Management (IAM) as important to this strategy, but existing IAM solutions are creating major barriers to digital technology adoption across complex networks. UAM is unique in that, for the first time, it allows companies of any size to manage access for on-premise and cloud-based applications with a single Identity-as-a-Service (IDaaS) solution. Historically, access for these respective environments has been managed separately and inefficiently with IAM solutions catering to either SaaS or on-premise environments, but not both, leading to a fragmented approach that is plagued with complexity, inefficiency, and high cost. As such, there is a growing dissatisfaction with available offerings, particularly for large enterprise organisations with complex application portfolios spanning hybrid environments. OneLogin is uniquely positioned to address both cloud and on-premise access management needs, with more than 2,000 enterprises globally securing their applications with OneLogin, saving an average small enterprise €3.79m (£3.32m) annually.
“OneLogin’s unique Unified Access Management offering is the dawn of an exciting new era for access management in the enterprise, but also for OneLogin as a company. Following my appointment last year, we have created a new senior leadership team – Justin Calmus, Chief Security Officer, Miles Kelly, Chief Marketing Officer, Kevin Biggs, Chief Revenue Officer and Maura Thierault, Enterprise Sales VP – who have been instrumental in creating and driving demand for the new UAM category, and the subsequent rapid momentum and growth of OneLogin in North America, EMEA and APAC,” said Brad Brooks, CEO of OneLogin.
OneLogin’s key EMEA highlights include:
Notable customer wins: the opportunity to significantly improve efficiencies, simplify processes, secure the corporate network and make considerable savings has led to a raft of new European customer wins in 2018 alone. Airbus, OTTO, De Persgroep and British Red Cross are some of the well-known large enterprises to choose OneLogin’s Unified Access Management solutions to support their digital transformation journeys.
Strategic channel partnerships: with the demand for UAM spanning from North America to EMEA,European channel providers Infosec Cloud, Synetis and iC-Consult, T-Systems chose to partner with OneLogin, offering its product suite to their enterprise customers – providing them with the access management tools to realise the full potential of their digital transformation strategies and securely manage hybrid environments across on-premise and cloud networks.
Expansion of EMEA operations: In line with the demand for its solutions, OneLogin is expanding its operations in the UK, Germany and France. The UK office in London has become the EMEA headquarters, orchestrating the considerable growth across the region. In addition, following a recruitment drive in the last few months, the EMEA sales team has nearly doubled in size.
“We are heavily investing in expanding our global footprint, opening new development centres in Seattle, Washington and London, UK to ensure we remain the leading innovator in the access management sector and to support regional expansion,” said Brooks. “Outside of North America, the UK, France and Germany are key international markets for us. Our London office has become the EMEA headquarters to support rapid regional expansion and we are looking forward to continuing the growth of our workforce by recruiting from the world-class talent pool in the region.”
New round of funding: OneLogin is announcing the close of a new funding round of $22.5m, led by existing and new investors. This funding comes on the back of OneLogin successfully taking market share in the access management industry. The company will use the funding to fuel growth in sales and marketing efforts, as well as hiring development resources around the world.