Mar 13, 2017 - Economy

Okta files for IPO

Okta, a provider of cloud-based tools for business to manage employee access of software and devices, has filed for a $100 million IPO.

Offering details: The San Francisco-based company plans to trade on the NASDAQ under ticker symbol OKTA, with Goldman Sachs listed as left lead underwriter.

Financials: Okta is not profitable yet. It reported net losses of $59.1 million and $76.3 million in fiscal 2015 and 2016, respectively, and $54.9 million and $65.3 million for the nine months ended October 31, 2015 and 2016. Okta brought in $41.0 million in revenue during the fiscal year of 2015, and $85.9 million in fiscal 2016.

Backers: Okta has raised $231.5 million in venture capital, and was most recently valued at qlmowt $1.2 billion post-money according to PitchBook. Its investors include Andreessen Horowitz, Greylock Partners, Khosla Ventures, Sequoia Capital, and Floodgate Fund, among others.

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