Source: TechCrunch
Summary
Oak, an Israeli identity management startup cofounded by Shai Morag, has raised $60 million in seed funding. The company is emerging out of stealth mode. According to TechCrunch, Oak aims to provide a platform for secure identity management. The startup’s funding round was led by unnamed investors. Oak plans to use the funds to further develop its technology.
Our Reading
The launch follows a familiar script.
Oak, a startup with a familiar goal, emerges with a large seed funding round. Oak’s platform promises secure identity management, because that’s exactly what we needed. Another solution to a problem we’ve been solving for years. The $60 million funding is a vote of confidence, or a sign of hype. Oak’s future is bright, or so it seems. Oak’s identity management platform is not the first, nor will it be the last.
Author: Evan Null
