Okta joins global ID2020 Alliance, completes Auth0 acquisition
Okta is the latest digital ID organization to join the ID2020 Alliance, whose members pool money to fund ID projects and standards that aim to bring benefits to many, but which otherwise may not attract private investment.
“We are delighted to welcome Okta to the ID2020 Alliance,” executive director, Dakota Gruener is quoted as saying in a blog post from Okta. “If properly designed and ethically implemented, digital ID can be the key that unlocks previously inaccessible rights and opportunities for hundreds of millions of people globally. ID2020 and Okta share a common vision; to ensure that those keys are available to everyone.”
Adam Rosenzweig, Senior Manager for Product Impact at Okta writes: “Solving identity challenges unlocks critical resources, creates new markets, and helps protect the most vulnerable people. It’s no exaggeration to say that identity changes the world.”
Okta follows the National Cybersecurity Center and MasterCard joining the initiative. In April 2020 the company announced $10 million for funding to help nonprofit organizations make better use of digital identity technology. The Okta Nonprofit Technology Initiative will be funded from the Okta for Good Fund.
Okta also announced on May 3 2021 the completion of its $6.5 billion stock acquisition of Auth0, and its digital identity platform for application teams, after eight years of pursuit.
Auth0 will continue to operate as an independent business with Okta. The company’s CEO and Co-Founder, Eugenio Pace, will report directly to Todd McKinnon, CEO and Co-founder at Okta.
Both company’s digital ID platforms will continue to be supported, invested in, and integrated over time, with the intention that the Okta Identity Cloud will be even more compelling for a wide range of customers and users, according to a release from Okta.
Okta has specialized in providing single sign-on (SSO) processes to clients such as Microsoft whereas Auth0 has worked with software developers and coders, securing clients such as AMD.
According to Fortune, McKinnon knew he had to buy Auth0 the moment he laid eyes on it, just five months after its founding in 2013. He has been trying ever since.