Okta acquired atSpoke (Townsend Street Labs, Inc.) for approximately $79.3 million cash consideration ($13.4M held back as partial security for 18 months); reported by MarketScreener at $89M total when including stock component, a transaction completed in August 2021, structured as cash (primary) plus Class A common stock.
atSpoke (Townsend Street Labs, Inc.) operates in Workforce Identity / Identity Governance and Administration, is based in San Francisco, California. Townsend Street Labs (operating as atSpoke) was a modern workplace operations platform — a ticketing and knowledge tool used by IT, HR and operations teams to handle internal requests. Okta announced it would incorporate atSpoke's platform with Okta's Identity Governance and Administration (IGA) offering, with co-founders Jay Srinivasan and Pratyus Patnaik taking leadership positions in Okta's product and engineering teams.
atSpoke will serve as a building block for Okta's upcoming identity governance and administration (IGA) offering.
Identity Governance and Administration was the next big workforce-identity adjacency Okta wanted to enter, and the access-request workflow — the user-facing front end of IGA — was the part Okta was furthest from having. atSpoke had already built that experience for a different problem (general workplace tickets). atSpoke's workplace-operations platform integrated as the front-end experience for Okta's upcoming Identity Governance product line. Townsend Street Labs leadership (Jay Srinivasan, Pratyus Patnaik) took product and engineering leadership roles within Okta
Advisory firms were not disclosed for this transaction.