Strata Announces $11M Series A to Lead the Multi-Cloud Identity Orchestration Revolution
It is hard to believe that it’s been less than two years since we started Strata after the founders took a surf trip to Rincon, Puerto Rico. On that momentous trip, we envisioned a future where distributed architectures powered apps running distributed across multiple cloud platforms. We believed strongly that the distributed architecture of multi-cloud requires a purpose-built distributed identity architecture for that future to work. We saw the success of Kubernetes orchestration distributing apps across clouds and thought, what if we could apply orchestration to solve the distributed identity problem?
So we conducted more than 50 customer development engagements and countless conversations with industry experts to understand and define Identity Orchestration and how it can solve today’s multi-cloud identity challenges. Then we built the Maverics Identity Orchestration platform, leveraging insights from our team’s more than 100 years of identity experience. When Maverics was ready, we worked with several Fortune 500 enterprises to prove it in their labs, with a 100% success rate.
Fast forward to today, and I’m excited to announce that we’ve raised $11M in a Series A led by our new amazing investor Menlo Ventures, to take Strata Identity to the next level. Menlo deeply believes in our disruptive vision for Identity Orchestration and the distributed identity revolution. I’ve really enjoyed getting to know the Menlo team and platform, especially our new board member, Venky Ganesan, and also Sunil Chhaya. ForgePoint Capital also participated in the round. With this financing, Strata greatly extends our bench depth and experience. You can read the press release here.
Strata’s Identity Orchestration software is more important today than we ever imagined. Now more than ever, businesses are moving to the cloud, and people are working remotely, making identity the new perimeter. The rush to modernize and move apps to the cloud is accelerating, yet the ability to manage identity is mired in legacy technology lock-in. We believe our customers should have the freedom to choose which cloud platform and identity provider is best for the task. We want our customers to have the confidence that they can manage access to sensitive data and apps consistently across multiple cloud platforms.
This funding puts us in a position to help more customers succeed in moving to multi-cloud environments. Strata will use this capital to scale our distributed identity technology and develop the Identity Orchestration market. We will hire even more super talented engineers and go-to-market Maverics to join our exceptional team. We’re looking for people who share our passion for building breakthrough technology and solving complex problems that our industry has yet to solve.
This past year has been a great way to create a new market, and I wish I could share all the stories of how Strata is helping empower the multi-cloud enterprise with Identity Orchestration. We look forward to sharing these soon.
We are so thankful for our investors, partners, supporters, and Maverics, who share our vision and for stepping up to help make it happen.