Going Global: Privy's Expansion Gets a Boost from New Strategic Investors

Privy has announced its collaboration with strategic partner Okta Ventures to strengthen its international market expansion. Okta Ventures participated in a $48 million Series C funding round for Indonesia's digital trust company, led by global investment firm KKR. The investment and strategic engagement will enable Privy and Okta to expand their global reach.

Privy's partnership with Okta and Auth0, which share its vision of a world where secure access to any technology is available to everyone, will provide certified digital identity with verified electronic certificates at the highest level of verification for Indonesian citizens. This will enhance the security of Okta and Auth0's customers' authentication and offer more seamless services.

A secure and reliable digital infrastructure is becoming increasingly important in today's rapidly developing digital economy. Due to their anonymous and borderless nature, digital transactions demand trustworthy digital infrastructures such as a private cloud database, data encryption, digital identity verification, and certified digital signature. To minimize threat, digital identities should be verified independently by a trusted third party like Privy.

Privy's CEO and Co-Founder, Marshall Pribadi, 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."

Senior Director of Okta Ventures, Austin Arensberg stated that Okta Ventures is delighted to support Privy's goal of ensuring the safety and legality of all electronic business and personal transactions. “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,” he added.

Starting in Australia, Privy will expand worldwide, following in the footsteps of its large verified user base of over 37 million in Indonesia as of December 2022. Privy is quickly becoming the most important strategic partner in Indonesia, thanks to its rapidly expanding user base. Privy's partnership with Okta Ventures will help the company achieve its goal of going global and giving everyone secure access to any kind of technology.