Okta announced on Thursday that it has agreed to acquire AI identity security startup Permiso Security. While Okta did not disclose official transaction terms, TechCrunch reported — citing a source familiar with the deal — that the acquisition is valued at just under $200 million and is structured as an almost all-cash transaction. An Okta spokesperson did not dispute the $200 million figure when TechCrunch asked CEO Todd McKinnon for comment.
The deal is expected to close in the third quarter of Okta’s fiscal 2027, subject to customary closing conditions.
Why the acquisition matters
Identity management firms are shifting from simply verifying users at login toward continuous monitoring of behavior after access is granted. That includes tracking activities of users, applications, and increasingly AI agents. As enterprises embed autonomous software and AI agents deeper into operations, demand is rising for tools that secure machine and non-human identities and detect misuse after authentication.
What Permiso does
Permiso, which emerged from stealth in 2022, builds software to help security teams detect suspicious activity in cloud environments after users or applications have been granted access. Recently the startup expanded its platform to monitor AI agents and other machine identities.
Permiso was co-founded by Paul Nguyen and Jason Martin, both former FireEye executives. The company focuses on detecting attacks that leverage stolen or compromised identities to move laterally through cloud infrastructure. In April, Permiso introduced SandyClaw, a platform that analyzes AI agent skills in a sandboxed environment to identify malicious behavior before deployment.
Strategic fit for Okta
The acquisition strengthens Okta’s efforts to secure AI agents and other non-human identities alongside its core identity management business. Ely Kahn, Okta’s chief product officer, said in a prepared statement: “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.”
Funding and valuation history
Permiso has raised about $29 million to date. That includes an $18.5 million Series A round in April 2024 led by Altimeter Capital. People familiar with the financing said the Series A valued the Palo Alto–based startup at about $80 million on a post-money basis.
The acquisition gives Okta the opportunity to integrate Permiso’s detection and analysis capabilities into its platform, aiming to better protect customers who are deploying AI agents and automated systems across their operations.
