Business Insider
- Okta is offering startups a free year of its password management services as part of a new promotion.
- Okta for Startups includes access to the company's primary Identity Cloud service, which allows users to store login credentials for multiple services behind a single user identification and password.
- The promotion is also offering startups the ability to build Okta's login feature into their applications.
In a bid to hook new customers on its password and authentication services, Okta is offering a free trial for startup companies.
Starting Wednesday, Okta will offer its services for free for up to a year to companies with 25 or fewer employees. The promotion, dubbed Okta for Startups, includes access to Identity Cloud, the company's primary product, which allows users to store login credentials for multiple websites and applications behind a single user name and password.
Okta for Startups also includes the option for companies to build Okta's login and authentication service into their customer-facing applications, as long as those apps have no more than 25,000 monthly active users.
Okta is trying to make it easier for startup companies to focus on their core products, Frederic Kerrest, its chief operating officer, said in a statement.
"Founding a company is hard," Kerrest said. "And it’s even harder when you have to build a business model for something that hasn’t been done before, or that you’re trying to do differently – all while getting your core systems up and running."
Okta, which went public in April and is now worth $2.7 billion, is scheduled to release its latest quarterly report on Wednesday after the market closes. While the company has been operating at a loss, its business has been rapidly growing; in its previous quarter, its subscription revenues were up 67.7% from the same period a year earlier.
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