Series A funding paves the way for Strata’s multi-cloud identity adoption
We’re thrilled to announce that Strata recently closed an $11M Series A round of funding, led by Menlo Ventures and supported by ForgePoint Capital. The overwhelming excitement surrounding the announcement has solidified what we already believed—that the multi-cloud identity problem is vast, and enterprises need a solution now. That’s what Strata is all about.
Just two years ago, our vision of distributed cloud identity management was revolutionary. Today, it’s quickly making Strata a key player in the $12B identity and access (IAM) market.
Why? Strata’s Maverics platform addresses a costly challenge for customers relying on one or many cloud platforms. The combination of cloud-native and legacy-built applications creates distributed identities. And it turns out, the management of distributed identities is complicated, to say the least.
“Strata is addressing a massive pain point for enterprises, which only gets worse as they migrate more applications to the cloud,” remarked Managing Partner at Menlo Ventures, Venky Ganesan. “The last time I got this excited about a security company was when I met the founders of Palo Alto Networks. Strata is going to transform the identity space.”
Solving the Identity Management Crisis
The industry and our investors recognize that the cloud has created an identity management crisis. It’s exciting. Companies must try simultaneously to manage on-premises alongside several different cloud provider systems and somehow enforce security policies.
Strata eliminates identity management crises with our Identity Fabric. It unifies the management of hybrid cloud environments through a solution known as identity orchestration. We created a way to help organizations manage legacy and cloud-native identity management systems seamlessly in a nutshell.
VC News Daily observed that Strata’s technology enables more organizations to transition their applications to multi-cloud environments saying, “Strata is pioneering the concept of identity orchestration for distributed multi-cloud identity. The Strata Identity Fabric enables enterprises to seamlessly unify on-premises and cloud-based authentication and access systems for consistent identity management in multi-cloud environments. Strata’s distributed approach to identity enables organizations to break decades-old lock-in that has prevented a broader transition of enterprise workloads to public cloud infrastructures.”
Pandemic-Driven Cloud Adoption
As we all know, the pandemic has accelerated the adoption of the cloud. Like it or not, companies have been forced to provide Zero Trust access to applications for employees working from home and this means greater cloud adoption. Consequently, this brings with it the headaches of managing more identities across many different cloud environments.
Our investors said it best when they referred to the pandemic as being a key driver for cloud adoption, saying, “The pandemic became a catalyst for digital transformation, driving spectacular tailwinds for cloud adoption. It also created new challenges with identity fragmentation as more users turn to cloud services with their own built-in identity systems. As companies adopt multiple cloud platforms and spin up services, they require consistent identity and access policies for the apps that run on these environments.”
Strata’s Maverics Identity Orchestrator solution allows enterprises to seamlessly unify on-premises and cloud-based authentication and access systems for consistent management across these different environments. In other words, companies can easily manage identities across multi-cloud and legacy environments.
Cracking the Identity Code–With No Code
As more companies have adopted the cloud over the years, it has become apparent that identity management and policy consistency across multi-cloud and legacy environments is a daunting, if not impossible, task. Until now.
Cyber Guards commented, “Strata argues that by allowing multiple cloud identity systems and older data center systems to be managed as one and providing businesses with the ability to centrally manage identity and security policies across various cloud platforms, it has ‘cracked the code.’ The organization has developed what it considers as a framework for distributed identity orchestration that facilitates distributed multi-cloud applications and applies unified policies across several cloud platforms.”
A critical aspect of our solution is that it helps transfer legacy software to the cloud with little or no rewriting of code. Through what we call the “Zero Code Connector Catalog,” the process of linking identity systems is simplified into Workflows for orchestration.
Rather than ripping and replacing various identity systems, our identity orchestration solution creates an abstraction layer. Customers can mix and match identity technologies on the different clouds in their environment without rewriting apps or compromising security—or the user experience.
Dark Reading commented on this identity management challenge saying, “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 that 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; thus, it’s easier for companies to get old apps working with a new identity system.
What’s Next for Multi-Cloud Identity Adoption?
With this latest round of funding, the next phase of our journey begins. It’s time to evangelize and deploy the Maverics technology at organizations facing the challenges of multi-cloud identity management.
There is a lack of awareness and even skepticism that our new distributed approach is possible. But, before embarking on this development journey, we conducted in-depth conversations with over 50 organizations. We then built the Maverics Identity Orchestration Platform and then worked with several Fortune 500 enterprises to prove the solution in their labs with 100% success!
A recent eWeek review concurs that Maverics Identity Orchestrator works and is easy to implement when they concluded, “Strata’s approach to solving the multi-cloud identity orchestration problem proves effective. The company earns recognition for its ease of integration, visual representations, and its ability to quickly consolidate identities without creating excessive burdens. For enterprises looking to bring identity management into a distributed yet unified paradigm, Strata offers an elegant approach.”
Are you ready to see what identity orchestration can do for your multi-cloud enterprise? Watch a quick demo today or get your custom demo from our trained experts.