Okta Acquires AI Security Startup Permiso for ~$200M

Okta has reached an agreement to purchase the AI identity security firm Permiso Security for around $200 million in a deal primarily involving cash, as reported by a knowledgeable source. The identity management firm made the announcement on Thursday, though specific terms were not revealed; TechCrunch obtained the valuation from a source, and an Okta representative did not contest the figure when approached. The transaction is anticipated to finalize in the third quarter of Okta's fiscal 2027, pending standard conditions. Founded by ex-FireEye leaders Paul Nguyen and Jason Martin, Permiso, which launched in 2022, specializes in software that identifies suspicious actions in cloud settings post-access. The acquisition enhances Okta’s focus on securing AI agents and non-human identities, with Okta's chief product officer Ely Kahn noting that Permiso will bolster Okta's identity security framework with enhanced threat detection and response features. Permiso has raised nearly $29 million so far, including an $18.5 million Series A in April 2024 led by Altimeter Capital, valuing the Palo Alto-based startup at approximately $80 million post-money.