Identity and mobility management company Okta has raised $75 million in new financing at a valuation of $1.2 billion. Andreessen Horowitz, Greylock Partners and Sequoia Capital led the funding round, with participation from Khosla Ventures, Altimeter, Glynn Capital and others. The company has now raised a total of $230 million since it was founded in 2009. “We’re at an important inflection point where IT leaders, product developers, industry analysts and the biggest technology companies in the world are acknowledging the critical role identity plays in connecting people, apps, devices and organizations,” said Todd McKinnon, Okta CEO. “Okta pioneered cloud-based identity management, which set us up to become the foundation for secure connections between people and technology. We’ll leverage our new capital to build on that foundation, accelerating our leadership position, driving deeper innovation across all our product lines, and continuing our growth and expansion into new regions.”
The Black Tux, a suit and tuxedo rental startup, has raised $25 million in funding in a round led by Stripes Group, TechCrunch reports. Previous investors First Round and Menlo Ventures also participated in the latest investment round. The company previously raised $10 million in January. The company aims to make the process of renting a suit or tuxedo much simpler and more efficient. The website uses an algorithm to ensure users are rented properly fitting attire, and the suits are sent to users a week in advance of their event, with the promise of an overnight replacement if they do not fit.
International shipping startup Freightos has raised $14 million in Series B funding. Aleph, Annox Capital, ICV and OurCrowd, MSR Capital and Sadara Ventures all participated in the round. The Hong Kong-based company has now raised a total of $23.3 million. The Freightos platform allows users to search for shipping options.
AveXis, a gene therapy company developing treatments for neurological genetic diseases, has raised $65 million in funding. The Class D common stock financing was led by T. Rowe Price Associates, with participation from previous backers Deerfield Management, Roche Venture Fund and Venrock and new investors Janus Capital Management LLC, Adage Capital Management, L.P., RA Capital Management, QVT Financial LP, Rock Springs Capital Management LP, Foresite Capital Management, LLC, RTW Investments, LLC and Boxer Capital of Tavistock Life Sciences. “We are pleased to have such a robust syndicate of well-respected investors, led by T. Rowe Price funds and accounts, join with our existing investors in this financing. This points to the broad enthusiasm surrounding our SMA clinical program and the progress we have made to date,” said Sean P. Nolan, president and chief executive officer, AveXis. “We are now well-positioned to continue development of our novel gene therapy for patients suffering from SMA Type 1, a rare genetic disease and the most common genetic cause of infant mortality.”