Retained Executive Search Okta, Inc. Vice President, Mergers & Acquisitions Position Specification
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Retained Executive Search
Okta, Inc.
Vice President, Scan this barcode with your
SmartPhone and email or share
Mergers & Acquisitions this printed document on
Position Specification
Market Opportunity: $39.4B Combined global Identity Access Management and
Consumer Identity and Access Management market 2020-2025.
Our client, Okta, Inc. (NASDAQ: OKTA) participates in both large and growing market categories of Identity and
Access Management (IAM) and Customer Identity and Access Management (CIAM). Okta Investor Day
Presentation
In their 2020 report, MarketsandMarkets states, "The global IAM market size is projected to grow from $12.3B in
2020 to $24.1B by 2025, at a Compound Annual Growth Rate (CAGR) of 14.5% during the forecast period. North
America to hold the largest market share during the forecast period."
According to a new [2020] Forrester Wave™ Customer Identity and Access Management research report, the
Consumer Identity and Access Management Market (CIAM) is projected to grow from $7.6B in 2020 to $15.3B by
2025, at a Compound Annual Growth Rate (CAGR) of 15.1%. The increasing venture capital funding and growing
investments in consumer identity and access management technology to drive the overall growth of the consumer
identity and access management market.
Gartner names Okta a Leader in 2019 Access Management Magic Quadrant, Gartner states, “Okta received the
highest score for the customer experience category. Customer comments widely complement the product’s ease of
deployment and use." In Gartner analysis, Okta ranked very high for its market responsiveness and track record. For
the third year in a row, Okta has been placed the furthest for ability to execute and completeness of vision. Okta is
one of the most frequently discussed solutions in the AM market. Okta has grown substantially in the past year,
taking a larger share of the CIAM market, a quickly growing segment of AM. Okta has extensive adaptive and
contextual authentication, and its session management capability. In the past year, Okta has developed a capability
called ThreatInsight, which correlates data from all Okta logins across the Okta environment for an extensive
collection of threat intelligence for the AM platform.”
The growth in the combined global Identity Access Management and Consumer Identity and Access Management
market creates huge opportunity for our client, the leading independent provider of identity for the enterprise, Okta,
Inc.
Our Client: Okta, Inc. (http://www.okta.com/; NASDAQ: OKTA)
With approximately 3000 employees and headquarters in San Francisco, CA, Okta, Inc. (NASDAQ: OKTA) is the
leading independent provider of identity for the enterprise. The Okta Identity Cloud enables organizations to
securely connect the right people to the right technologies at the right time. With over 6,500 pre-built integrations to
applications and infrastructure providers, Okta customers can easily and securely use the best technologies for their
business. More than 8,950 organizations, including JetBlue, Nordstrom, Slack, T-Mobile, Takeda, Teach for
America, and Twilio, trust Okta to help protect the identities of their workforces and customers.
Aug. 27, 2020 -- Okta, Inc. announced strong financial results for its Second Quarter Fiscal 2021 ended July 31,
2020. Okta increases revenue and operating profit outlook for fiscal 2021. Total Q2 revenue was $200.4M an
increase of 43% year-over-year. Subscription revenue was $190.7M, an increase of 44% year-over-year. For the full
year fiscal 2021, the Company now expects: Total revenue of $800M to $803M, representing a growth rate of 37%
year-over-year.
“The three mega-trends that have been driving our business for the past several years - the adoption of cloud and
hybrid IT, digital transformation, and zero trust security - are all being accelerated globally by the current
environment,” said Todd McKinnon, Chief Executive Officer and co-founder of Okta. “These trends are reflected in
our strong second quarter results and reflect the work that Okta is doing to help organizations around the world
accelerate their adoption and deployment of cloud applications, and remote access, and re-imagine their digital
customer experiences. As part of this process, organizations are re-evaluating their roadmap to modernize their
identity systems and Okta’s platform is the linchpin of the new cloud technology stack. We believe that the world
will not return to the pre-COVID work environment and Okta is committed to helping our customers on their
journeys.”
Don’t just take our word for it — Okta is a Certified Great Place to Work.
Okta's values:
Love our customers
Our customers are our number one priority, and we know if they’re successful, so are we.
Never stop innovating
We are a company of builders, and we are driven to confront the hard problems and solve them.
Act with integrity
We always treat each other, our customers, our partners, and our extended community with honesty,
decency, and respect.
Be transparent
We operate with transparency. We know that maintaining an open flow of information across teams, among
individuals, up and down and around the company, is crucial to how we work.
Empower our people
We are a diverse, passionate community of people who deeply care about our products, brand, and culture.
Our community fosters an environment of positive energy, collaboration, and sustainable growth.
Example Okta Client Testimonials: FedEx Rapidly Deploys the Okta Identity Cloud to Secure its Remote and Essential Workforce • Trey Ray, Manager Cybersecurity, FedEx Due to the increased work at home environment that we've had the last few weeks, we actually had to accelerate some of our plans and over a 36 hour period, we actually moved Workday, Office 365, WebEx, Check Point VPN and Zoom to Okta SSO. • Gene Sun, Chief Information Security Officer, FedEx At FedEx, we know that a connected world is a better world. That belief guides everything we do, including implementing the tools and technologies to support our workers during these challenging times. Protecting the data of our customers and team members is a primary focus for us. We implemented the Okta Identity Cloud to securely connect our team to the applications they need to successfully and efficiently deliver goods and services. We are very thankful for the extraordinary effort and collaboration between FedEx and the Okta team to make this happen under pressure and with extreme time constraints. Together, we are supporting our employees and customers during this challenging time. • Scott Castle, Director Product Management, Digital Media, Adobe Using Okta at Adobe has allowed my organization to focus on the key differentiators in our product, building value for our customers and investing our time and efforts in the things that make our customers successful. • T-Mobile When T-Mobile leaders set out to transform the wireless industry with their Un-carrier strategy, they recognized that the technology that retail employees and customer care agents dealt with every day would have to change dramatically. Today, Okta sits at the center of their digital transformation, simplifying access to 220+ applications and helping those frontline employees focus on customers, rather than on technology hurdles.
The Opportunity: Vice President, Mergers & Acquisitions At Okta, the Vice President, M&A is a high-visibility mission critical role and owns the success of the business for their area of focus. Okta is looking for a Vice President, Mergers & Acquisitions to be a member of its Corporate Development Team. Responsible for leading all Mergers & Acquisitions activity this individual will help scale Okta's world-class Mergers & Acquisitions organization in the areas of Workforce and Customer Identity. The position will report directly to the Senior Vice President, Corporate Development. As part of the Corporate Development team, the Vice President of M&A is responsible for acquisition execution. These responsibilities include the M&A lifecycle from target evaluation & identification, deal sourcing, to deal execution. This individual will collaborate with executive management to develop segment and/or market strategies and define the role of acquisitions. The ideal candidate will have proven experience managing complex acquisitions with large technology companies, inclusive of driving business and technical alignment, while communicating with both internal and external executives. This role is full time and ideally located in Okta's San Francisco headquarters. Position Profile At Okta, the Vice President, Mergers & Acquisitions role is ultimately about addressing the questions: What new markets can we get into? Where can we as a company start to broaden our footprint? As the Mergers & Acquisitions leader at Okta, you will be fully responsible for all stages of the Mergers & Acquisitions life cycle from developing and driving the Mergers & Acquisition funnel for deal flow from number of reach outs and companies you're investigating, to understanding the market, navigating the funnel, partnering with the business to drive interactions and insights associated with meaningful companies you've engaged in dialog, to ultimately executing on transactions and helping support making those acquisitions successful. Equally important will be knowing when to say, "No." to potentially bad acquisitions. Coming into the company, this leader will be building influence, develop the ability to partner with the business, and understand the market landscape. It is important to understand that this role is equal parts internal facing as well as external facing. This requires the Vice President of Mergers & Acquisition to possess corresponding executive presence around all the superficial aspects of listening, being able to distill and understand, and effectively communicate to develop relationships and represent Okta in the conversations that matter externally from speaking directly to a CEO of a startup or smaller company targeted for acquisition, to investors or investment bankers, to the whole ecosystem that's around mergers and acquisitions. This individual will have the experience and credibility internally to partner in the same way with Okta's product managers and other executives possessing the ability work with them in a way that demonstrates understanding, help prioritize, and bring the right insights. Duties and Responsibilities: • Implements M&A strategy that aligns to overall corporate strategy. • Develops and designs potential M&A criteria/rigor to review potential acquisitions, ensures that criteria/rigor selects appropriate acquisition targets that are in alignment with company goals. • Approaches and works with targets in coordination with product, engineering and leadership teams. • Conducts financial modeling of structures, business plans, and commercial arrangements. • Leads due diligence process and structuring on potential acquisitions. • Ideally execute on at least 2 acquisitions in their first year. • Grow the team as the velocity of deals improves to support the cadence of doing 3-4 acquisitions per year. The Vice President, Mergers & Acquisitions will have the opportunity and challenge of supporting growth of a state-of-the-art solutions business targeting the sweet spot of the market. This executive works cross-functionally with Okta's executives, peers, subordinates, customers, analysts, and key opinion leaders daily to ideate, support, strategize, implement, and guide Okta's business growth.
The ideal candidate must be very comfortable with a hands-on, multi-dimensional, high-visibility, business owner
and leadership role demanding high levels of cross-functional, executive, customer and industry stakeholder
interaction. Okta is looking for a well-balanced business and execution leader who will thrive in this fast-paced,
highly-collaborative, team-oriented environment. This person must be flexible to the dynamic nature of Okta's
business demands and must be a strong agent for positive change. This type of challenge is a selling point for the
right individual, who can appreciate the magnitude of this breakout opportunity.
The following characteristics and experience will describe the successful candidate:
• The ideal candidate must possess at least 15 years of career experience combined with 8 years of strong, full
lifecycle M&A experience in an internal Corporate Development role.
• From an internal corporate perspective, candidates must have substantial hands-on transactional experience
leading, coordinating, and executing across the complete life-cycle spectrum of M&A to include developing the
business case to obtaining a signed term sheet and closing a transaction.
• Must have substantial transactional experience specifically with mid to large size transactions having personally
driven many deals themselves.
• Demonstrates proven success involving commercial due diligence within the technology sector.
• Proven deep subject matter expertise in various aspects of mergers, integrations, spin-offs and/or divestiture
transactions.
• Possesses expertise in the enterprise software/SaaS industry with Security and Identity being a preference.
• This execution oriented hands-on leader must know how to navigate within a fast moving highly collaborative
company culture.
• This executive is able to partner with a team of highly collaborative builders, drivers, and proactive
communicators, especially with their corporate strategy team counterparts.
• Must be able to integrate into and function as a Corporate Development team member and have the ability to be
vocal, external facing, viewed as subject matter expert, capable of productively interacting with very senior people
when it comes to getting things done.
• This executive has a demonstrated track record of executing and driving for results, as well as the ability to
change and adapt to meet and anticipate the needs of a rapidly changing marketplace.
• An effective communicator, able to convey complex ideas in a clear, concise manner both verbally and in writing;
comfortable in business and technical discussions.
• Experience in building trusting relationships and influencing others (especially with executive audiences).
• Strong people development and leadership skills; proven ability building out a team.
• Collaborative team player who is also an independent, naturally curious, and creative thinker.
• Self-starter who thrives and can multitask in fast-paced and often ambiguous environments.
• MBA or higher-level business degree required.
For more information please contact:
Michael A. Rothstein • Managing Principal (bio)
mrothstein@executive-advantage.com • Phone: 503.372.9084
Executive Advantage Group, Inc.
Offices in Silicon Valley and the Pacific Northwest • www.executive-advantage.comYou can also read
