Strata Identity Raises $11M in Series A RoundStrata Identity Raises $11M in Series A Round
The series A round of funding, led by Menlo Ventures, will help Strata scale its distributed identity technology.
February 17, 2021
Strata Identity has announced $11 million in Series A funding to continue developing and scaling its Maverics identity orchestration platform created for multicloud environments.
Strata, based in Boulder, Colo., was founded in 2019 by co-authors of the Security Assertion Markup Language (SAML), which has become the protocol most people use daily to authenticate into Web applications. Strata was founded on the idea that distributed multicloud architecture will require a distributed identity architecture.
To meet this demand, Strata created an "Identity Fabric" to bridge an organization's cloud identity systems, as well as older data center systems, so they can be managed as a single entity. Its Maverics software connects to existing identity systems, and then it migrates users and their credentials to modern cloud-based identity systems. The platform separates apps from identity; in doing so, it's easier for companies to get old apps working with a new identity system.
Co-founder and CEO Eric Olden says the cloud has created "an identity management crisis" as companies simultaneously manage on-premises and cloud-based systems to enforce security policies. Rather than "rip and replace" different identity systems, Strata aims to provide a layer that lets businesses manage identity technologies for hybrid and multicloud environments.
This latest round of funding was led by Menlo Ventures and supported by ForgePoint Capital. Strata plans to use the funds to scale research and development, go-to-market, sales, marketing, and customer success for its Maverics platform.
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