- Strata will use the funds to scale research and development, go-to-market, sales, marketing, and customer success for its Maverics platform
- Strata also announced that Venky Ganesan, Partner at Menlo Ventures, has joined the company’s board of directors
Strata has announced that it has closed an $11 million Series A round of financing led by Menlo Ventures and supported by ForgePoint Capital. It said that Strata has built the first distributed identity orchestration platform, called Maverics, to revolutionize the fast-growing $12B identity and access management (IAM) market
Strata will use the funds to scale research and development, go-to-market, sales, marketing, and customer success for its Maverics platform. Strata also announced that Venky Ganesan, Partner at Menlo Ventures, has joined the company’s board of directors.
In October, research and advisory firm Gartner named Strata a Cool Vendor in Identity Access Management and Fraud Detection, saying, “Although many applications are now cloud-native, moving legacy to the cloud can present challenges. The identity models expected by legacy are not necessarily those that are native to the cloud. Therefore, providing an identity orchestration architecture that enables lift-and-shift, with no rewrites or application reengineering, will enable rapid cloud adoption.”
Businesses are increasingly using multiple cloud services. In these distributed environments there is no way to centrally manage identity and security policies across each cloud platform which all use unique identity systems.
Unifies the management of hybrid cloud environments
Businesses are increasingly using multiple cloud services. In these distributed environments there is no way to centrally manage identity and security policies across each cloud platform which all use unique identity systems. Strata has built a distributed Identity Fabric that bridges and unifies multiple cloud identity systems, as well as older data center systems, so they can be managed as one. This technology addresses both the $12 billion IAM market as well as the $142 billion cloud adoption and migration market.
Eric Olden, CEO of Strata said, “The cloud has created an identity management crisis, with companies being forced to simultaneously manage on-premises and several different cloud provider systems to enforce security policies. We eliminate this problem with an identity fabric that unifies the management of hybrid cloud environments through identity orchestration. Rather than rip and replace different identity systems, identity orchestration creates an abstraction layer that enables customers to mix and match identity technologies on different clouds easily, without rewriting apps, compromising security or user experience. This challenge has created a massive market opportunity. This funding will help us scale up.”
