KO Client Strata Raises $11M in Series A Funding to Advance Multi-Cloud Identity Technology
- KO Firm
- March 1, 2021
KO client Strata, a distributed multi-cloud identity orchestration company, announced it has closed an $11M Series A round of financing. The financing, which as led by Menlo Ventures and supported by ForgePoint Capital, will be used to scale research & development, go-to-market, sales, marketing, and customer success for its Maverics platform.
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 $12B IAM market as well as the $142B cloud adoption and migration market.
KO partner Kevin Gibson, attorney Elizabeth Ho and paralegal Krystal Rushton supported Strata in the financing deal. KO has been working with Strata since its formation in 2019, and has been supported Strata CEO Eric Olden through the formation of his past three companies.
“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,” Eric Olden, CEO of Strata, said in a new release. “We eliminate this problem with an identity fabric that unifies the management of hybrid cloud environments through identity orchestration.”
Read more about the news here.