Cloud Security Acquisitions, OneLogin $100M Funding Round Preview What’s In Store

Cloud identity and access management startup OneLogin closed a $100 million Series D round, bringing its total funding to $175 million. It’s the latest in a flurry of cloud security funding and acquisition announcements in the opening days of 2019.San Francisco-based OneLogin, founded in 2009, developed a cloud-based platform that makes it easier for companies to secure and manage their on-premises and cloud workloads. It does this by unifying access to both software-as-a-service (SaaS) and data center applications across networks and devices using cloud infrastructure. The company says it saw annual recurring revenue nearly triple over the last three years driven by its platform.More than 2,500 enterprises globally use OneLogin’s platform, the company claims. These customers include California transit agency Bay Area Rapid Transit (BART), New York technology and real estate startup Compass, and Broward College.New investors Greenspring Associates and Silver Lake Waterman led the latest financing round, which also included existing investors CRV and Scale Venture Partners. The Series D follows a June 2018 funding round that raised $22.5 million.OneLogin says it will use the money to “accelerate adoption of its new products” including its multi-factor authentication. It also plans to increase its North American and European footprints.