Cybersecurity firm Okta has acquired Israeli startup Axiom in a deal valued at approximately $100 million, although the exact amount wasn’t disclosed.
Axiom’s team will join Okta’s development center in Israel, which was set up after Okta acquired Spera in December 2023. Okta is currently valued at about $16 billion on the stock market.
Axiom was started in 2021 by Itay Mesika and Ilan Dardik, who first met while serving in the Israeli Air Force in 2013. After their service, they held various industry roles and led teams in fintech and infrastructure companies.
Since launching, Axiom has raised $10 million in funding. This includes a $7 million Seed round in December 2022, led by venture capital firm S Capital.
The funding round brought in several well-known cybersecurity investors, such as Srinath Kuruvadi (Head of Cloud Security at Netflix); Nadir Izrael and Yevgeny Dibrov (founders of Armis); Slavik Markovich, Rishi Bhargava, Dan Sarel, and Guy Rinat (founders of Demisto); Ofer Smadari (co-founder and CEO of Torq); and Sharin Fisher Dibrov.
Later, the company also raised another $3 million, but this was not officially announced to the public.
Axiom offers an identity-based system for managing permissions and access (PAM), built for cloud platforms, SaaS, databases, containers, and other virtual environments.
Its platform helps companies follow the Least Privilege principle by giving users only the access they need, when they need it. It replaces always-on permissions with Just-in-Time (JIT) access, allowing businesses to protect important systems without slowing down daily operations.
The company believes that access should always be secure by default, without reducing productivity. This vision matches well with Okta’s larger mission to lead the identity management market and let users safely use any technology.
Axiom works with dozens of global clients, including Minute Media, Navan, BPP, Varonis, and Orca Security.
Its IAMOps platform automates the management of cloud and SaaS identities. This helps security teams keep permissions to the minimum needed, while making their work easier and reducing hassle for end users.
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