Identity provider giant Okta has announced its acquisition of Spera Security, a Tel Aviv-based startup, to bolster its capacity for tracking high-risk accounts and detecting access misconfigurations. The financial terms of the deal were not disclosed by the publicly traded San Francisco company, but reports suggest the acquisition is valued between $100 million and $130 million. Okta, with a market cap of approximately $14 billion, aims to expand its cybersecurity capabilities, addressing the growing challenges associated with identity-driven breaches.
Spera Security positions itself as a tool providing security teams with real-time visibility into their entire identity surface. Its functionalities enable administrators to identify accounts excluded from multifactor authentication or single-sign-on, offering a comprehensive approach to identity security. The acquisition aligns with Okta’s mission to prevent identity-driven breaches, recognizing the significant role identity components play in cybersecurity incidents. The move comes after a 90-day pause on product development and internal projects initiated by Okta in November, aimed at strengthening security architecture following a data breach in September.
Founded by Dor Fledel and Ariel Kadyshevitch, Spera had received $10 million in seed funding in March, with notable participation from YL Ventures, Google, Palo Alto Networks, and Akamai. The acquisition underscores Okta’s strategic focus on enhancing its security offerings, coming on the heels of its purchase of Uno, a personal password manager, a few months ago. The cybersecurity landscape continues to evolve, and the acquisition of Spera Security positions Okta to better navigate the complex challenges associated with identity-based cyberattacks, providing a more robust solution for its users and customers.
