Okta to acquire Permiso for nearly $200 million

Okta has agreed to acquire Permiso Security, a startup that detects identity-based threats in cloud environments and monitors AI agents and other machine identities. The deal gives Okta a broader way to protect software operating inside enterprise networks, not just people signing in.

Okta has not disclosed the transaction’s terms. TechCrunch learned from a source familiar with the deal that it is valued at just under $200 million and is structured as an almost all-cash acquisition. An Okta spokesperson did not dispute the figure but declined to comment on the specific terms.

The acquisition is expected to close in the third quarter of Okta’s fiscal 2027, subject to customary closing conditions.

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What Permiso adds to Okta’s identity security platform

Identity providers are increasingly extending their products beyond login verification. The focus is shifting toward continuously tracking what authorized users, applications, AI agents, and other non-human identities do after they enter a network environment.

Permiso emerged from stealth in 2022. Its software helps security teams identify suspicious activity in cloud systems after a user or application has already received access. The company specializes in detecting attacks that rely on stolen or compromised identities to move through cloud infrastructure.

The startup was co-founded by former FireEye executives Paul Nguyen and Jason Martin. In April, it introduced SandyClaw, a platform that analyzes AI-agent skills inside a sandboxed environment. The goal is to identify malicious behavior before those skills are deployed.

That capability complements Okta’s push to secure AI agents and other non-human identities alongside its core identity-management products.

“Permiso will extend Okta’s identity security fabric with proven identity threat detection and response capabilities, and an incredible threat research and security team that will advance Okta’s threat detection and prevention capabilities.”

Permiso’s funding and acquisition value

Permiso has raised approximately $29 million to date. Its financing includes an $18.5 million Series A led by Altimeter Capital in April 2024.

People familiar with that financing said the Palo Alto-based startup was valued at approximately $80 million post-money at the time. The source did not provide a precise acquisition price beyond saying it was just under $200 million, and Okta has not confirmed the deal’s final terms.