SailPoint Acquires Intello: Expanding SaaS Management Capabilities

SailPoint Acquires Intello for $43 Million

SailPoint, a publicly traded identity management provider since 2017, recently announced the acquisition of Intello. The transaction involved a payment of $43 million for the early-stage SaaS management startup.

Enhancing IT Security Through SaaS Visibility

SailPoint’s rationale behind this acquisition centers on bolstering its customers’ security posture. By gaining comprehensive insight into all SaaS applications utilized within an organization, IT departments can more effectively mitigate risks.

A significant challenge arises from the ease with which employees can independently deploy SaaS solutions without IT’s awareness. Intello provides the necessary visibility and control to address this issue.

The Rise of “Shadow IT”

The phenomenon of “shadow IT” has become increasingly prevalent over the past decade. It describes the practice of deploying software outside the established oversight of IT professionals.

Tools like Intello empower IT teams to identify all SaaS applications in use. They can then guide employees towards approved solutions and disable those deemed insecure by security experts.

Pandemic-Driven Increase in SaaS Sprawl

Grady Summers, EVP of product at SailPoint, highlighted the exacerbation of this problem during the recent shift to remote work. The pandemic has made it considerably more difficult for IT to maintain a clear understanding of employee SaaS usage.

This situation has resulted in a notable increase in ungoverned SaaS sprawl and the exposure of unprotected data within these applications. IT teams face heightened challenges in safeguarding against escalating cyber threats due to limited visibility into existing shadow access.

Summers stated that integrating Intello will help eliminate unauthorized application usage, improve overall security, and provide better insights into SaaS expenditures.

Intello’s Background and Funding

Intello has consistently focused on enhancing security and compliance. The company previously collaborated with other identity management platforms, including Okta and OneLogin.

Founded in 2017, Intello secured $5.8 million in funding, as reported by Crunchbase. This included a $2.5 million extended seed round completed in May 2019.

Competitive Landscape in SaaS Management

Concurrent with SailPoint’s acquisition, Torii, another SaaS management tool, announced a $10 million Series A funding round. Other prominent players in the SaaS management space include BetterCloud and Blissfully.

Note: This article was updated on February 25, 2021, to include the previously undisclosed purchase price.