Unified access management platform OneLogin has raised $100m in a growth financing round led by Silver Lake and Greenspring Associates.
Tech-focused PE giant Silver Lake invested through its late-stage growth capital vehicle, Silver Lake Waterman. Existing investors CRV and Scale Venture Partners also joined the round, which brings the company’s total funding to more than $170m. OneLogin had previously raised $22.5m in a funding round in June 2018.
The San Francisco-based company provides cloud-based identity and access management services to 2,500 business customers in various industries around the world. The company recently partnered with Intello to provide one-click visibility into SaaS utilisation and advanced reporting on vendor compliance.
OneLogin will use the new funding to accelerate adoption of its new products and increase its presence in North America and Europe.
“The OneLogin team has built a strong platform to secure and manage access to applications. Their performance has accelerated since Brad joined as CEO, with a clear focus on culture and customers,” said Silver Lake Waterman managing director Shawn O’Neill. “We look forward to partnering with Brad and the rest of the leadership team in continuing this success and growth.”
Silver Lake is a leader in tech investment and manages around $45.5bn in combined assets through its operations in Silicon Valley, New York, London, Hong Kong and Tokyo. In March last year, the firm joined Battery Ventures to buy real estate data and software business EDR for $205m.
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