The TL;DR
Okta is an enterprise-focused identity provider: they take care of managing usernames, passwords, and permissions so you can focus on your apps.
- If you’ve ever used “sign in with Google” to log into an app, you’ve used Single Sign On (SSO) - a way to outsource identity to third-party providers
- When you build SSO into your app, you use Identity Providers (IdPs) like Google or Okta to take care of the actual authentication
- Beyond just basic authentication, Okta also helps with provisioning user accounts, mobile device management, and directory sync
- Enterprises (really big companies) have tight security requirements – they’re often not allowed to sign contracts with vendors that don’t support SSO
Okta's share price has fluctuated since their 2017 IPO, reaching highs of around $270 in 2021 before settling lower. As more enterprises move to cloud apps, Okta continues to grow revenue 20%+ YoY.