SecureAuth, a company specializing in next-generation access management and authentication, has acquired Cloudentity for an undisclosed sum.
The move enhances SecureAuth’s capabilities in customer identity and access management (CIAM). Following the deal, the company appointed Joseph Dhanapal as its new chief executive officer (CEO) and member of the board of directors.
SecureAuth is backed by global investment firm K1.
The acquisition of Cloudentity is technology M&A deal number 98 that ChannelE2E and MSSP Alert have covered so far in 2024. See more than 2,000 technology M&A deals for 2024, 2023, 2022, 2021, and 2020 listed here.
SecureAuth, founded in 2005, is based in Irvine, California. The company has 174 employees listed on LinkedIn. SecureAuth’s areas of expertise include single sign-on, adaptive access controls, identity management, cloud security, access management, mobile app security, security token service, SAML, Enterprise OpenID, web authentication, Federated ID, SaaS authentication, adaptive authentication, identity governance, and administration.
Cloudentity, founded in 2011, is based in Seattle, Washington. The company has 25 employees listed on LinkedIn. Cloudentity’s areas of expertise include identity and access management, access management, API security, data privacy, open banking, open finance, CIAM, authorization, OAuth, OPA, FDX, FAPI, consent, scale, token management, financial-grade OAuth, PBAC, SSO, authorization server, digital identity, trust ecosystems, consent APIs, and fine-grained authorization.
Dhanapal’s Appointment
Dhanapal most recently served as vice president, PingOne Advanced Services at Ping Identity. There, he led the go-to-market and operations strategy for the company.
Dhanapal succeeds Paul Trulove as CEO of SecureAuth.
Executive Comments
Joseph Dhanapal, CEO, SecureAuth, commented:
"In a digital-first world, with increasing attacks on digital IDs, enterprises are looking for advanced solutions that balance security and user experience; and SecureAuth is positioned to deliver solutions that address evolving enterprise workforce and consumer identity access management needs."
He added:
"Innovation has been in SecureAuth’s DNA for nearly two decades, from adaptive and risk-based authentication approaches to continuous identity monitoring. I’m excited to join SecureAuth at a time where the opportunity to harness the power of our portfolio and differentiate based on agility and responsiveness to customer needs will create new momentum and growth. Partnering with Vik Verma, our Executive Board Chairman and the rest of the K1 Investment Management team, will continue to help accelerate our growth and category leadership."
Ron Cano, managing partner, K1 Investment Management, said:
"We’re pleased to welcome Joseph to SecureAuth, to usher in the company’s next chapter of investment in product and customer experience. SecureAuth is equipped to provide mission-critical solutions to our customer base."
