• Okta

  Participated · Series E · Jun 2014

  Okta provides cloud-based identity management and has expanded into adjacent areas such as security, mobile device management and two-factor identification. The company says it has been growing 100% year over year and was burning through cash prior to this financing. Okta reports roughly 600 employees and about 2,500 customers. The new capital gives the company flexibility to delay or control the timing and terms of a public offering and to acquire small strategic companies if opportunities arise. Okta also recently opened a new EU datacenter to comply with EU data privacy laws. Since launching in 2009 the company has raised a total of $230 million. Okta provides Identity as a Service that integrates on-premises applications and cloud services, enabling access across devices. The company has over 1,200 customers, including LinkedIn, MGM Resorts International and Western Union. Okta plans to expand its library of pre-integrated applications from about 3,000 today to 10,000 and to open an office in Sydney to support Asia-Pacific customers. Leadership says the product goal is to make any application accessible to any end user, partner or supplier on any device. Financially, the company has raised a total of $155M to date and is aiming to reach cash-flow break-even before pursuing an IPO. Management views competitive pressure from players like Ping Identity, Microsoft and Salesforce as a driver of product focus and growth. Okta provides an enterprise-grade identity management service that integrates with existing directories and identity systems as well as on-premises, cloud-based and mobile applications. Its platform enables IT teams to manage access from any device. The company is led by CEO Todd McKinnon and serves more than 500 enterprise customers, including Allergan, LinkedIn, MGM Resorts International, Western Union and SAP. Okta plans to use new funding to continue growing in North America and to expand internationally. To support that expansion it added Philip Turner as its first European general manager. Okta builds an identity management platform to help enterprises manage the growing number of applications and devices employees use. The company announced a framework called the Enterprise Identity Network to define a "modern" identity service. It also released a mobile app, a new Microsoft 365 integration, and expanded on‑premise integrations. Okta positions its product as a replacement for legacy identity solutions such as Microsoft Active Directory in cloud and multi‑app environments. The article reports that Okta's sales pipeline and metrics across the board have increased amid competing activity in the market. Financially, the company has raised a total of $52.5M to date. Okta offers a cloud application management platform that gives IT teams control of users, applications and data both in the cloud and behind the firewall. Its service provides a central directory for user profiles and can replicate that directory to cloud applications like Salesforce and Google Apps. The product launched to the public in January and customers include Enterasys Networks, Pandora, T.D. Williamson and AMAG Pharmaceuticals. Usage has ramped to power over 1 million authentications per month. Founder Todd McKinnon previously served as VP of Engineering at Salesforce. Okta plans to expand its cloud IT management offerings and is ramping sales, marketing and distribution to eliminate cloud adoption barriers; the company has raised a total of $28 million to date.

• Workday

  Led · Series F · Oct 2011

  Workday provides SaaS-based enterprise solutions for human capital management, payroll, and financial management. Founded in 2005 by Dave Duffield and CEO Aneel Bhusri and based in Pleasanton, CA, the company serves a range of customers. Customers include more than 230 companies, spanning mid-sized organizations to Fortune 500 businesses. Workday's core product suite includes Human Capital Management, Payroll, and Financial Management solutions. The company intends to use new capital to expand its core technology, products, go-to-market capability, and administrative infrastructure. It recently closed an $85M Series F financing to support those plans. Workday offers cloud software for human capital management and financial management, bundling HR and finance into a single system. Its core products include Workday Human Capital Management and Workday Financial Management. The company currently serves over 80 customers. Workday plans to use new funding to extend its product portfolio and support company expansion. Financially, the firm has raised a total of $150 million to date. The company was founded by Dave Duffield, who previously founded PeopleSoft and sold it to Oracle for $10.3 billion.

• Portola Pharmaceuticals

  Participated · Equity · Jul 2008

  Portola’s core programs include betrixaban, a once-daily oral Factor Xa inhibitor, and PRT064445, a recombinant Factor Xa inhibitor antidote. The company intends to use the financing to advance betrixaban through Phase 3 clinical development and to progress PRT064445. Portola plans to initiate a Phase 3 program to prevent venous thromboembolism (VTE) in acute medically ill patients in the first half of 2012. The company also has a global collaboration with Biogen Idec for an oral Syk inhibitor program targeting autoimmune and inflammatory diseases. Under that agreement Biogen provided an upfront $45m (comprised of $36m cash and $9m in equity). Portola is led by CEO William Lis. Portola Pharmaceuticals is a San Francisco-based drug company developing cardiovascular therapies. Its lead program is betrixaban, an anticoagulant intended to prevent blood clots and being advanced into Phase II trials. The company is also developing an antiplatelet agent, PRT060128. Portola recently took a $60 million extension to its third round of funding to see betrixaban through Phase II. It has raised about $200 million in total to date, including a prior $70 million financing. If its drugs do well in trials, the company has said it will likely head to an IPO. Portola Pharmaceuticals is a South San Francisco biotech developing treatments for blood clots and other cardiovascular conditions. Its core programs are two experimental blood thinners that target different coagulation proteins. PRT054021 is an oral Factor Xa inhibitor that showed promising signs in a recent mid-stage human trial and is slated for further clinical testing. PRT060128 prevents platelet aggregation, has completed early trials, and is expected to enter mid-stage testing by the second half of 2007. The company raised $70M in a third round dominated by late-stage and public-market investors to fund these trials. Portola also aims to go public and may pursue an IPO as early as next year, according to its CFO. Portola Pharmaceuticals is a South San Francisco biotech focused on therapies for cardiovascular and vascular diseases. The company has two drug candidates in clinical development: an oral Factor Xa inhibitor in a Phase II trial for prevention of deep vein thrombosis in patients undergoing knee surgery, and a direct-acting, orally available ADP receptor antagonist in multiple Phase I trials. Portola recently secured $20 million in debt financing to support its operations. The financing was provided by Hercules Technology Growth Capital. Portola is already backed by venture firms Abingworth, Alta Partners, ATV, Frazier Healthcare Ventures, MPM Capital, Prospect Ventures and Sutter Hill Ventures.

No current team members are available.