Identity and mobility management company Okta, Inc. has raised $75 million Series F in a round that included existing investors Andreessen Horowitz, Greylock Partners and Sequoia Capital, along with Khosla Ventures, Altimeter, Glynn Capital and others.

According to reports, the round was done on a $1.2 billion valuation, giving the company unicorn status for the first time.

Founded in 2009, Okta offers what they refer to as a foundation for secure connections between people and technology.

The company harnesses the power of the cloud to allow people to access applications on any device at any time while still enforcing strong security policies.

Okta’s platform integrates with existing directories and identity systems, as well as thousands of on-premises, cloud, and mobile applications, and runs on a secure, reliable and extensively audited cloud-based platform.

Numbers wise the company says it now provides services for over 2,500 enterprise customers and millions of logins per day from companies including 21st Century FOX, Etihad Airways, DISH Network and RE/MAX.

“We’re at an important inflection point where IT leaders, product developers, industry analysts and the biggest technology companies in the world are acknowledging the critical role identity plays in connecting people, apps, devices and organizations,” Okta Chief Executive Officer Todd McKinnon said in a statement. “Okta pioneered cloud-based identity management, which set us up to become the foundation for secure connections between people and technology.”

IPO

In a separate interview with TechCrunch McKinnon explained that the company was building towards an initial public offering (IPO) however timing would depend on market conditions.

“We had offers, but the [existing investors] were so excited about what we are doing and gave us the best deal in terms of valuation and more importantly tons of flexibility to go public with no provisions of blocking the IPO or penalizing us for having our valuation drop [if conditions changed],” McKinnon said, before adding ” “We don’t have to go public to raise capital. We don’t have any provisions to block us from going at a certain price or timeline.”

Including the new round Okta has raised $230 million to-date; investors who didn’t participate in the new round include Janus Capital Group, FLOODGATE, Webb Investment Network and SV Angel among others.

The company said it would use the new funding to accelerate their leadership position, driving deeper innovation across their product lines while continuing growth and expansion into new regions.

Image credit: Okta/screenshot