OLOID accelerates growth in building identity management solutions for deskless workers, supported by new investors and strategic partnerships

October 24, 2024 09:00 AM Eastern Daylight Time

SUNNYVALE, Calif.–(BUSINESS WIRE)–OLOID, a leading provider of workplace technology for access and identity management, continues its momentum in transforming the identity management landscape. The company has seen rapid adoption across industries, with significant growth in its customer base and badge registrations. Now, OLOID is set to further accelerate its expansion and innovation following a $6 million Series A1 funding round, led by Yaletown Partners, Exposition Ventures, George Kaiser Family Foundation, Carya Ventures, and existing investors also participated in the round.

“Their focus on passwordless authentication, seamless system integration, and automation makes OLOID a leader in the space. Their AI-powered platform is truly a game-changer for companies navigating the complexities of hybrid work environments.”Post this

OLOID also announced it has become a Workday Innovation Partner and achieved Workday Certified Integration status. Through this integration, OLOID can provide customers with a more streamlined integration that connects Workday Human Capital Management (HCM) and Workday Time Tracking with the OLOID Time Clock.

OLOID’s platform offers frictionless access control through multi-modal biometric authentication, modernizing security for deskless and frontline workers. By integrating with existing systems, OLOID enables organizations to enhance their physical security infrastructure without the need for costly overhauls. The platform emphasizes ease of use, automation, and compliance, addressing the growing complexity of managing secure access in hybrid and modern work environments.

Momentum Through Innovation and Partnerships

OLOID’s innovative solutions are built to meet the growing demand for secure, scalable workplace access technologies, and the company is poised to lead in the evolution of identity management for the Industry 4.0 workforce. The new certified integration with Workday will help fuel OLOID’s momentum, positioning the company to scale its digital authentication solutions across various industries and geographies.

“This isn’t just about financial growth—it’s about expanding our mission to redefine workplace access and identity management,” said Mohit Garg, CEO of OLOID. “Our platform’s ability to integrate seamlessly with existing infrastructure, along with our commitment to frictionless passwordless solutions, enables organizations to enhance both physical and cyber security in a time when it’s needed most.”

Solving Complexities of Modern Work Environments

OLOID is addressing the challenges of modern hybrid work environments, where companies must manage both physical and digital access securely and efficiently. By simplifying access control and integrating with enterprise systems like Workday, OLOID helps organizations manage identity and security in increasingly complex workplaces.

OLOID’s achievement of Workday Certified Partner status is a major milestone, enabling deeper integration with the Workday platform. This certification underscores OLOID’s commitment to delivering secure, enterprise-grade identity solutions that meet stringent technology and service standards. For joint customers, the partnership with Workday will help provide a more streamlined, reliable experience with comprehensive support for easy implementation.

Investor Confidence in OLOID’s Vision and Capabilities

“We are thrilled to partner with OLOID as they continue to innovate in identity management,” said Kamal Vasagiri, Venture Partner at Yaletown Partners. “Their focus on passwordless authentication, seamless system integration, and automation makes OLOID a leader in the space. Their AI-powered platform is truly a game-changer for companies navigating the complexities of hybrid work environments.”

While OLOID’s platform incorporates advanced technologies, including AI components, its focus remains on practical benefits like ease of use and seamless integration, helping customers streamline their access control and identity management needs. The AI component enhances automation, supporting more intelligent and adaptive identity solutions.

As OLOID accelerates its growth, the company’s focus remains on advancing identity solutions that meet the security, privacy, and operational needs of businesses worldwide.

More information on OLOID’s integration can be found on Workday Marketplace, which provides easy access to solutions built by Workday and its partners.

About OLOID

OLOID stands at the forefront of physical identity management and automation, offering state-of-the-art passwordless and automation solutions for enterprises. OLOID’s objective is to establish a unified security framework by integrating with HR, IT, and various cyber and physical systems, thus enabling a unified digital identity across the organization and the day in the life of the user.

Headquartered in Sunnyvale, CA, OLOID is backed by some of the largest venture funds and corporations such as Dell Technologies Capital, Honeywell Ventures, Okta Ventures, Unusual Ventures, Emergent Capital and trusted by Fortune 100 companies as customers such as Flex, Tyson Foods, and Honeywell.

Contacts

Abhishek Naidu
OLOID INC.
+1 800 711 9123

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