Welcome to Episode 59 of the Cloud Wars Horizon Minute — featuring news and commentary hosted by Acceleration Economy analyst Tom Smith. Each episode provides insights into one or more Innovation Accelerators on the Cloud Wars Horizon. This episode focuses on HYCU and Okta.
00:35 — HYCU, a multi-cloud backup as a service provider that announced $53 million in venture capital investment in a series B round in June, said that security software firm Okta and its venture arm invested in HYCU as part of that Series B extension.
01:07 — Okta develops single sign-on and identity management software while HYCU’s products support data backup and mobility across on-premises, multi-cloud and hybrid cloud, or information technology (IT) environments.
01:30 — The two companies said they’ll work together to help keep data protected and available regardless of where it’s located.
01:40 — The companies said they have more than 100 joint customers currently using Okta and HYCU.
02:00 — This deal is another indicator of HYCU’s rapidly expanding footprint and its ability to link arms with partners that can help its multi-cloud technology achieve further market penetration.
This Cloud Wars Horizon Minute is sponsored by Celonis, the market leader in process mining and execution management. The world’s top 2,000 process fanatics learned to fix process inefficiencies at Celosphere, the company’s annual conference, which was held November 9th and 10th in Munich, Germany. Sign up to watch the free virtual Celosphere 2022 stream here.
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