Okta has agreed to acquire AI identity security startup Permiso Security for just under $200 million in an almost all-cash deal, according to a source familiar with the transaction. The acquisition, which Okta expects to close in the third quarter of its fiscal 2027, is part of a broader industry shift where identity management companies are expanding beyond login verification to continuous monitoring of users, applications, and AI agents after they gain access.

Permiso, co-founded by former FireEye executives Paul Nguyen and Jason Martin, emerged from stealth in 2022 and builds software that detects suspicious activity in cloud environments using compromised or stolen identities. The startup has recently extended its platform to monitor AI agents and other machine identities. In April 2025, it introduced SandyClaw, a sandboxed platform that analyzes AI agent skills to identify malicious behavior before deployment.

Okta’s chief product officer Ely Kahn stated that Permiso will extend Okta’s identity security fabric with proven identity threat detection and response capabilities and a strong threat research team. The deal strengthens Okta’s push into securing non-human identities alongside its core identity management business.

Permiso had raised about $29 million to date, including an $18.5 million Series A in April 2024 led by Altimeter Capital, which valued the company at roughly $80 million post-money. The acquisition price represents a significant premium over that valuation.