Strata, the distributed multi-cloud identity orchestration company, announced it has closed an $11 million Series A round of financing, allowing the company to use the funds to scale research and development, go-to-market, sales, marketing, and customer success for its Maverics platform.
This funding round was led by Menlo Ventures and supported by ForgePoint Capital. The company’s founders co-authored the SAML standard used today to transparently provide cross-cloud identity and single sign-on (SSO) between web sites. Strata also announced that Venky Ganesan, Partner at Menlo Ventures, has joined the company’s board of directors.
Strata has cracked the code by building 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 $12B IAM market as well as the $142B cloud adoption and migration market.
Strata built a distributed identity orchestration platform, called Maverics, to revolutionize the fast-growing $12 billion identity and access management (IAM) market.
“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,” said Eric Olden, CEO of Strata. “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.”
Strata was also recently nominated for membership in the invitation-only Microsoft Intelligent Security Association (MISA) to integrate the Maverics Identity Orchestrator with Azure Active Directory (Azure AD).
This solution enables organizations to transition applications tightly integrated with legacy identity systems such as CA SiteMinder or Oracle Access Manager to Azure AD with no user experience changes and no burden on application teams.
For more information about this news, visit www.strata.io.