Okta Sees 30% Revenue Rise

April 8, 2021

The firm sees revenue to grow by 30% in each of the next three fiscal years as it introduced two new products, one in “privileged access management” and another in “identity governance and administration.”

Okta Privileged Access is a new product that unifies identity management with flexible, least privilege access controls for critical infrastructure to increase development speed, operational agility, and improve Zero Trust security at the deepest levels of enterprise technology environments. With Okta Privileged Access, the complex management of highly sensitive access to secure hybrid and multi-cloud infrastructure resources is made simple and accessible.

The explosive adoption of technology across the enterprise over the last few years has resulted in organizations using a wide array of critical computing resources. However, the adoption of security policies for these hybrid and multi-cloud environments lags behind innovation. Traditional privileged access management (PAM) solutions prove to be too brittle to adapt to the constantly changing resource and user types that come with cloud-based DevOps organizations. To meet today’s needs, modern enterprises require a real-time, Zero Trust security strategy anchored in identity and privileged access management spanning IT, security, and engineering teams.

“Okta has had tremendous success helping customers secure access to their applications, APIs, and servers. Today, we’re taking that to the next level with Okta Privileged Access,” said Diya Jolly, Chief Product Officer, Okta. “We’ve taken our centralized, identity-centric policy framework to completely shift the traditional shared account and credential model of legacy PAM, enabling just-in-time access through ephemeral credentials. With Okta Privileged Access, enterprises can efficiently achieve Zero Trust security at the deepest levels of the enterprise from databases and containers to fleets of servers.”

Securing Critical Computing Resources with Identity

Okta Privileged Access unites flexible, least privileged access requirements with identity to enable organizations to accelerate and strengthen Zero Trust security posture. Fine-grained, user, and role-based security policies can be applied seamlessly from a central system to manage who can access what at the infrastructure level. Further, compliance outcomes become streamlined by tying session logging to specific users in a centralized view. Okta Privileged Access can be deployed to production faster than any alternative and builds on Okta’s proven success in securing critical infrastructure with Okta Advanced Server Access.

Benefits of Okta Privileged Access include:

Increase risk mitigation: Minimize the attack surface area of privileged accounts and credentials by offering just-in-time, least privilege access controls.
Reduce operational burden: Unite privileged access with identity to enable the retirement of legacy PAM products and error-prone manual operations.
Enable velocity at scale: Deploy with automation to remove barriers to cloud adoption and help support the delivery of highly available, resilient, performant, and secure production software.

“Thousands of servers power Zoom’s frictionless communications experience,” said Gary Chan, Head of IT Infrastructure and Employee Services, Zoom Video Communications, Inc. “And with millions of people turning to Zoom each and every day, security is very important for us, even at the deepest layers of our technology stack. Okta helps us to secure our core infrastructure at scale with a flexible, identity-centric solution for privileged user access and management.”

The Power of Identity: A Unified Approach to Access Management, Privileged Access, and Identity Governance

Okta is proud to deliver a comprehensive single control plane for access management, identity governance, and privileged access. Okta’s unified platform meets enterprise challenges by bringing together core identity use cases in one centralized experience.

Okta’s unified approach to access management, identity governance, and privileged access delivers:

A single control plane: Leverage a single platform for identity governance and privileged access as well as one system to collect audit logs for compliance – making setup and management easier, while offering the best user experience.
Faster time-to-value: Achieve security, productivity, and compliance outcomes more quickly and effectively than any alternative through a SaaS delivery model that provides frictionless management across any hybrid or multi-cloud environment.
Seamless automation: Enable end-to-end identity governance processes across applications, infrastructure, and APIs at any level of scale using Okta’s extensible APIs and no-code Workflows.

Availability

Okta Privileged Access will be available in Q1 2022.

Okta Identity Governance is a powerful new product that offers a modern, cloud-first approach to identity governance and administration (IGA). Okta Identity Governance delivers self-service identity governance and administration for all users within the extended enterprise through a single control plane to meet compliance requirements without sacrificing speed in hybrid and multi-cloud environments.

The acceleration of cloud adoption and the new, dynamic nature of workforces today has dramatically changed the paradigm of user access. Management of access to an increasing number of resources is now standard business in transformed workplace environments. While organizations must enable access to an increasingly higher volume of disparate applications for workforces to operate productively, access to sensitive information cannot come at the cost of security. Enterprises have previously turned to IGA solutions to resolve complex identity governance challenges. However, traditional IGA systems were designed for on-premises applications and infrastructure, are costly and unnecessarily complex to deploy, and do not meet the needs of today’s dynamic cloud environments. Okta Identity Governance delivers the most critical capabilities of identity governance and administration in a modernized solution for a cloud-first world.

“Identity solves the most complex IT challenges across the enterprise and teams want a unified, integrated platform that governs every user and every resource,” said Diya Jolly, Chief Product Officer, Okta. “We are proud to expand our platform to the IGA market and believe with identity at the core, we can offer the most intelligent and efficient path to securing user access and mitigating risk for all users, applications, and data. Okta Identity Governance cuts across all resources from APIs and applications to servers, analyzes the right level of access to critical resources, and ensures that access stays in line over time. It also brings the right level of automation to reporting and access certification campaigns, freeing our customers of painful data wrangling and expensive consultants.”

Democratizing Access with Delegation and Self-Service

Okta Identity Governance gives enterprises a modern approach to solve complex user access and compliance issues, building on Okta’s proven success in automation and user management. Okta Identity Governance harnesses popular workplace tools to promote delegation and self-service, streamlining the evaluation and decision-making of who should have access to what resources and when. IT and security can now offer end-users a modern experience for application access requests through platforms like Slack. The result is boosted productivity and increased adoption of governance strategies, allowing IT to meet continually bigger challenges for the organization.

Benefits of Okta Identity Governance include:

Increased user productivity and IT efficiency: Enable great “Day 1” experiences for users with automatically provisioned birthright applications based on attributes. Free up IT resources with self-service access and approval workflows for users via modern chat, mobile, and web interfaces.
Better security and compliance outcomes: Automatically suspend access to resources based on user status changes in HR systems and directories. Maintain a system of least privilege to prevent accumulation of elevated or privileged access, and produce quick audit evidence and reporting for sensitive resources.
Increased cost savings and agility: Easily adapt to new users and resources by utilizing open standards and extensible API-based interfaces. Eliminate the cost of maintaining on-prem systems.

The Power of Identity: A Unified Approach to Access Management, Privileged Access, and Identity Governance

Okta’s unified approach to access management, identity governance, and privileged access delivers:

A single control plane: Leverage a single platform for identity governance and privileged access as well as one system to collect audit logs for compliance – making setup and management easier, while offering the best user experience.
Faster time-to-value: Achieve security, productivity, and compliance outcomes more quickly and effectively than any alternative through a SaaS delivery model that provides frictionless management across any hybrid or multi-cloud environment.
Seamless automation: Enable end-to-end identity governance processes across applications, infrastructure, and APIs at any level of scale using Okta’s extensible APIs and no-code Workflows.

“T-Mobile is constantly transforming its technology to empower our employees with modern tools to best serve customers and keep up with their dynamic expectations,” said Warren McNeel, Senior Vice President of Product and Technology, T-Mobile. “Okta’s powerful automation is a core part of our IAM strategy and enables us to offer our employees seamless, secure access to critical resources in remote or in-office workplace environments. Both the business and customers benefit when automation is closely united with identity. Okta Identity Governance further streamlines user access across a wide array of devices, applications, and digital processes.”

Availability

Okta Identity Governance will be available in Q1 2022.