Author: Erin Baudo Felter, Okta
Originally posted here.
Building a more secure world: Okta for Good’s $50 million, five-year commitment
In a challenging year where we have seen rising cybersecurity threats, a growing cyber and tech talent gap, and an acceleration of climate emergencies, Okta for Good, Okta’s social impact and sustainability initiative, has continued to stay focused on the unique ways Okta — and our ecosystem — can help.
It continues to have a measurable impact in communities around the world, addressing some of the world’s most critical challenges and extending our security commitment to society as part of Okta’s Secure Identity Commitment.
In service of Okta for Good’s vision of building a safely connected world where everyone can belong and thrive, today we are announcing a new $50 million commitment over the next five years out of the Okta for Good Fund to address the world’s most pressing challenges.
Our $50 million, Five-year commitment
These funds will be split across three key areas:
- $20-million Tech for Good: Accelerating digital transformation and cybersecurity for the social sector and strengthening the cybersecurity posture of civil society organizations.
Cyber insecurity remains one of the top 10 global risks over the next 10 years and has implications for every organization across every sector while having a significant impact on society’s most vulnerable communities. Nonprofits are the second-most-attacked sector, behind only governments, when it comes to cyberthreats, with 65% of large NGOs lacking confidence in their own security posture due to insufficient resources to protect themselves and those they serve.
Okta is a founding partner of Nethope’s Center for the Digital Nonprofit and Nethope’s Global Humanitarian Information Sharing & Analysis Center (ISAC) — a first-of-its-kind public-private partnership created to better protect nonprofits from rising cyberthreats. Okta’s continued support will help unlock more resources to protect these organizations while increasing their confidence in their security posture for the billions of vulnerable people they serve around the world.
- $15-million Digital Equity: Closing the digital divide and expanding economic opportunity by making cyber and tech jobs more accessible to all.
There are simply not enough skilled workers to keep us all safe from cybersecurity threats. In fact, four million cyber jobs remain unfilled globally. We need to move faster to train the next generation of cyber talent.
Since 2022, Okta has funded CodePath, a nonprofit organization focused on re-programming higher education by delivering industry-vetted courses and career support centered on the needs of Black, Latine, Indigenous, and low-income students.
- $10-million Climate Action: Supporting security and resilience for communities most impacted by climate change.
Climate change impacts everyone, but particularly communities with limited means and resources.
Since 2022, Okta has supported The Solutions Project, a nonprofit that builds power by scaling solutions, funding, and influence for climate justice. They provide grants to support more than 300 grassroots solutions across the U.S., Puerto Rico, and Indigenous sovereign nations.
We will also allocate $5 million of the funds to support our employees as they invest in their local communities around the world.
Building on foundation of impact
Okta for Good has been a cornerstone of Okta’s culture and values since before Okta’s IPO and a driving force in the community, deploying nearly $24 million in grants, supporting hundreds of organizations, and touching 14 global communities in the first seven years of grantmaking from FY’18–FY’24.
This commitment is the next step in Okta’s journey and builds on years of Okta for Good’s efforts to turn the company’s people, products, and financial resources toward the community.
In our just-released FY24 Okta for Good Impact Report, we outline some of the progress we’ve made over the last year.
- $7.3 million in cash contributed by the Okta for Good Fund, Okta, Inc., and Okta employees, representing a 22% year-over-year increase
- $6.0 million in technology and services donated, representing a 25% year-over-year increase
- 88% employee participation in Okta for Good (giving and/or volunteering)
- ~4,000 nonprofits supported through giving and volunteering
Looking ahead
We recognize the interconnected nature of societal issues, and we strive to ensure that social and environmental impact is integrated across our business strategy and processes. This latest investment reinforces our ongoing commitment to serve our communities at a time when macro world threats demand that we step up and do more. We have the opportunity to be intentional and accountable for being the driving agent for the change we want to see. We look forward to the work ahead with our partners and stakeholders and to providing updates on our progress.
To learn more about Okta for Good, our mission, and commitment, read our Impact Report here.
