Access management security solution provider OneLogin today announced obtaining $100 million in a new Series D funding round. Greenspring Associates and Silver Lake Waterman, first-time investors in OneLogin, led the growth financing round with participation from OneLogin’s other investors.
OneLogin has raised $170 million in total known raised capital since their inception in 2009. This makes this funding round one of their most successful yet. The Series D funding round comes just seven months after a successful Series C funding round obtained $22.5 million.
OneLogin said they plan to use this influx of revenue to increase their workforce, accelerate the adoption of their new product offerings like MFA, and employ cloud infrastructure in scaling their access management. The funds also enable OneLogin to grow their market share outside the U.S., especially in Europe and the APAC region.
Brad Brooks, CEO of OneLogin, said in a statement: “Every business needs Unified Access Management, and our solution is mission critical for all of our customers across both cloud and hybrid cloud environments. Our relentless focus on customer service coupled with this significant capital infusion supports OneLogin’s ongoing growth and investment”
Greenspring, OneLogin, and Access Management
John Avirett, General Partner at Greenspring Associates, said in a statement: “We’re at an inflection point for growth as all enterprises are faced with the challenge of managing access across SaaS and on-premise environments, as well as various devices and networks on the cloud infrastructure.”
Technology research firm Gartner named OneLogin a Visionary in their 2018 Magic Quadrant for Access Management, Worldwide. Gartner’s customers also named them as one of the five Peer Insight Customer Choice 2018 for Access Management, Worldwide. Industry experts note OneLogin has experienced significant growth over the past three years, nearly tripling their annual recurring revenue.
You can read the full press release on OneLogin’s Series D funding round and their new investment by Greenspring Associates here.