OLOID, a Sunnyvale, CA-based provider of workplace technology for access and identity management, has raised $6 million in a Series A1 funding round.
The company also announced it has become a Workday Innovation Partner and achieved Certified Integration status, enabling seamless connections between Workday HCM, Time Tracking, and the OLOID Time Clock.
Investors
The round was led by Yaletown Partners, with participation from Exposition Ventures, the George Kaiser Family Foundation, and Carya Ventures. Existing investors also contributed to the round.
Founded in 2002, Yaletown Partners is a venture capital firm based in Vancouver, Canada. The firm invests in technology companies that enhance industry and enterprise productivity and sustainability, helping to accelerate their growth, shorten exit timeframes, and achieve strong exit premiums. Yaletown has offices in Vancouver, Calgary, Edmonton, Toronto, Montréal, and San Francisco.
OLOID Use of Funds
The funds will fuel OLOID’s expansion and innovation in passwordless authentication and seamless system integration, enabling organizations to enhance security in hybrid work environments.
About OLOID
OLOID is a technology company providing workplace access and identity management solutions. Its platform focuses on passwordless authentication, biometric security, and seamless integration with enterprise systems like Workday. OLOID aims to establish a unified security framework by integrating HR, IT, and various cyber and physical systems, enabling a unified digital identity across the organization and throughout the user’s daily workflow. Headquartered in Sunnyvale, CA, OLOID is trusted by Fortune 100 companies, including Flex, Tyson Foods, and Honeywell.
Funding Details
Company: OLOID INC.
Raised: $6.0M
Round: Series A1
Funding Date: October 2024
Lead Investor: Yaletown Partners
Additional Investors: Exposition Ventures, George Kaiser Family Foundation, Carya Ventures
Company Website: https://www.oloid.ai/
Software Category: Physical Identity Management
Source: https://www.businesswire.com/news/home/20241024849892/en