Cloud computing services provider Rackspace has exited ScaleFT, the US-based developer of a software platform that facilitates remote access to computing networks, in an acquisition of undisclosed size by Okta.
Founded in 2015, ScaleFT has created a software platform that enables any user to securely log in to a company’s servers or web applications from anywhere using a single sign-on. Its technology is intended to enhance Okta’s authentication offering.
Rackspace joined assorted angel investors to provide $800,000 in seed capital for the company in 2015, and it closed an additional $2m in July 2017 having attracted Fathom Capital, Spectrum 28, Fuel Capital and Rackspace founder Graham Weston as investors.