Strata closed an $11M Series A round of financing 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 websites.
A massive market opportunity
Strata has built the first distributed identity orchestration platform, called Maverics, to revolutionize the fast-growing $12B identity and access management (IAM) 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.”
Strata will use the funds to scale research & 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.