Total amount raised
$29.6 Million
Latest funding date
06/01/2020
Location
Okera has raised funding over three rounds, with the latest being a Series B round involving five investors, including ClearSky. The company has garnered support from a total of 14 investors, with recent backers such as Cyber Mentor Fund and Bessemer Venture Partners.
Okera's journey in securing financial backing highlights its appeal in the data authorization sector. Keep reading to explore the intricacies of Okera's fundraising journey and the investors backing this innovative platform.
What Is Okera?
Okera, a data authorization company, operates in industries such as Cloud Data Services, Cloud Security, Information Technology, Privacy, and Software. The company is based in San Francisco, California, and has an employee count between 51-100.
Founded to address data security and privacy challenges, Okera has been acquired by Databricks. The company has successfully raised funding through Series B rounds, reflecting its strong position in the market.
How Much Funding Has Okera Raised?
- Seed Round
- Amount Raised: USD 2,600,000
- Date: August 2016
- Lead Investors: Felicis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and build the core team.
- Series A
- Amount Raised: USD 12,000,000
- Date: May 2018
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series B
- Amount Raised: USD 15,000,000
- Date: June 2020
- Lead Investors: ClearSky
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand engineering, sales, and marketing efforts.
Total Amount Raised: USD 29,600,000. Current Valuation: Not publicly disclosed.
Key Investors
- ClearSky Security
- Details: ClearSky Security is a strategic investment firm that led Okera's Series B funding round. Patrick Heim, a Partner and CISO at ClearSky, joined Okera's board as part of this investment.
- Investment Focus Areas: Cybersecurity, secure data access technologies.
- Notable Investments: Not publicly disclosed.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a global venture capital firm that invests in various sectors, including enterprise, consumer, and healthcare. They are an existing investor in Okera.
- Investment Focus Areas: Enterprise software, consumer, healthcare, financial services.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Felicis Ventures
- Details: Felicis Ventures is a venture capital firm that invests in early-stage companies across multiple sectors. They are also an existing investor in Okera.
- Investment Focus Areas: Enterprise, consumer, healthcare.
- Notable Investments: Shopify, Fitbit, Credit Karma.
What's Next for Okera?
Okera stands at the cusp of significant growth, driven by the increasing demand for secure data access and compliance with evolving data privacy regulations. The company's Active Data Access Platform (ODAP) positions it well to capitalize on the vast market opportunities in multi-cloud and hybrid cloud environments. With GDPR fines expected to exceed $1 billion, the financial implications underscore the immense potential for Okera's solutions.
Future fundraising opportunities appear promising as Okera continues to expand its engineering, sales, and marketing efforts. The recent $15 million funding round, led by ClearSky Security, indicates strong investor confidence and sets the stage for further financial backing. However, Okera must navigate challenges such as rapidly evolving data privacy regulations and intense competition in the data security sector.
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