Jakarta, IO – Indonesia’s pioneer and market leader in digital trust, Privy, proudly announces its engagement with one of its strategic partners, Okta Ventures. Okta Ventures participated in the $48 million Series C funding round of Privy – led by global investment firm KKR. The investment and strategic engagement will strengthen Privy and Okta’s international market expansion.
Privy’s strategic collaboration with Okta, together with Auth0, is the embodiment of our shared vision of a world where everyone can safely use any technology by providing secure access for everyone. Privy provides certified digital identity with verified electronic certificates at the highest level of verification for Indonesian citizens, which will enhance the security of Okta and Autho’s customers’ authentication and provide more seamless services.
Providing trust and secure digital infrastructure is essential for a rapidly growing digital economy. The anonymous and borderless nature of digital transactions need trusted digital infrastructures such as a secure cloud database, data privacy, verified digital identity, and certified digital signature as the backbone of trust to the system. While the digital world poses new challenges, independent verification of digital identity by a reputable third party like Privy is necessary to minimize risks.
Marshall Pribadi, CEO and Co-Founder of Privy said, “Privy’s certified digital identity and digital signature with Okta and Auth0’s solution in managing secured yet seamless digital identity authentication will be a powerful tool in providing trust for parties who conduct their business digitally”.
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Austin Arensberg, Senior Director of Okta Ventures said, “Okta Ventures is excited to support Privy’s vision to ensure all electronic business and personal transactions are safe and legally valid. We couldn’t be more excited to support the Privy team as they continue to innovate in customer identity and leverage Okta’s expanding Asia presence.”
Privy has a vision to expand globally – starting with Indonesia’s advanced market neighbour, Australia and expanding upon its massive, verified users of more than 37 million in Indonesia as of December 2022. The growing number of users in the world’s fourth-largest population country will position Privy as the key strategic partner in Indonesia. (*)