Azuqua was founded in 2013, employs 61 people, and has raised $16 million in four rounds of outside funding, according to LinkedIn and CrunchBase.Īzuqua will make Okta's life-cycle management product more valuable to customers, McKinnon said, allowing Okta to drive more penetration to the customer base, land new customers, and maintain its strategic advantage. The deal is expected to close by the end of April, Okta said.
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"You can think about it as taking that breadth and depth of integration to a whole new level because you will be able to talk to any system, any identity, attribute in those systems and fully control very little code with a high degree of expressability," McKinnon said. McKinnon said Azuqua's capabilities around customizing and extending any business process will be focused on Okta's life-cycle management product. 31 increasing to $30.8 million, 33.9 percent worse than a $23 million loss in the year prior.Īzuqua is a no-code cloud-based integration platform that helps customers automate data integration and workflows between different applications. The company also said that quarterly revenue climbed 50 percent on a year-over-year basis to $115.5 million, with Okta's loss in the quarter ended Jan.
Okta's stock fell $5.71, or 7.03 percent, to $75.50 in after-hours trading Thursday.
"We are excited by how this acquisition can accelerate our innovation and enable deeper value for our customers." "With the integration of Azuqua’s technology into our platform, we plan to rapidly deliver more advanced use cases by connecting more apps and supporting more complex workflows," McKinnon said. The addition of Azuqua's capabilities should "supercharge" Okta's existing product and go-to-market motion, according to McKinnon.
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Since Okta's life-cycle management tool is already in the marketplace today, McKinnon said the company already knows how to sell and market the product and has an existing base of customers. As a result, McKinnon expects concrete integration of Azuqua's workflow automation capabilities into Okta's life-cycle management product to be delivered in less than a year. "We've actually looked at this workflow identity process automation space for quite a bit and talked to a lot of different companies, and we are pretty fortunate to have found Azuqua and found a team that's so like-minded with us," Okta CEO Todd McKinnon said during the company's earnings call Thursday.Īzuqua was born and built in the cloud with the same kind of engineering philosophy and vision of the world as Okta, McKinnon said. IT teams, meanwhile, will be able to use pre-built connectors and logic to create streamlined processes and increase operational speed, according to Okta. The San Francisco-based enterprise identity vendor said its $52.5 million acquisition of Seattle-based Azuqua will enable customers to automate more of their business processes and connect to more apps. Okta has agreed to purchase Azuqua to better automate the business processes and flow of identities between applications and services for employees, partners and customers.
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