Omada offers an AI-driven identity governance solution that helps enterprises manage access to systems and applications. Its cloud-native, multi-tenant platform simplifies identity management, enhances security, and facilitates compliance. The company focuses on managing complex identity workflows with greater efficiency and precision. Led by CEO Michael Garrett, Omada provides tools for enterprises to control who has access to which systems and applications. The company intends to use recent funding to expand operations and development efforts. No financial metrics (revenue/users) are disclosed in the article. Omada offers the Omada Identity Suite (OIS), a next-generation IGA platform plus a best-practice process framework for identity management and access governance across on-premises, cloud and legacy systems. The platform is delivered as a service and on-premise and provides identity lifecycle management, provisioning, compliance control and access risk management for large and midsize enterprises across regulated verticals. The company has grown revenues at a compounded annual growth rate of over 40% for the last two years and employs more than 270 people across offices in Europe and North America, with headquarters in Copenhagen. With the announced partnership, new investors plan to accelerate product innovation, grow Omada’s partner network in North America and Europe, and bolster sales and marketing to deepen the company’s North American presence while continuing expansion in Europe. CVC Growth Partners and GRO Capital will become majority shareholders and provide further capital to support those initiatives. C5 Capital, which had been an investor since 2015, will exit and cease to be a shareholder following the transaction. Closing is anticipated in December 2018 and is subject to mandatory competition approvals. Omada provides identity and access governance (IAG) and identity access management (IAM) software that determines employee access rights and delivers compliance and governance frameworks. Its product was initially deployed in highly regulated sectors such as financial services and healthcare and is now used in retail, automotive, manufacturing and the public sector. Customers include blue-chip organizations such as BMW Group, Bayer Group, Altria Group, Maersk, HVB Unicredit, DekaBank and ECCO. The company is led by founder and CEO Morten Boel Sigurdsson and employs 120 people. Omada intends to use the investment to expand beyond Continental Europe into the UK and United States, increase sales and marketing activity, and enhance R&D capabilities. The $24M minority equity investment was announced by FinSMEs on 15 May 2015.

Total raised

$24M

Funding rounds

3

Latest round

Equity

Latest activity

May 2015