Funding round generates $26M for IAM provider Strata

Strata, provider of the multi-cloud identity orchestration platform Maverics, said it raised $26 million in a Series B funding round, which brings its total funding to $42 million, according to VentureBeat. Strata CEO Eric Olden says their solution addresses the issue being faced by organizations that are on multiple cloud environments and thus are using multiple identity systems, which makes identity and access management more complex for their security teams. "This is driving the need to think about managing identity security using an integration or abstraction layer -- known as an identity fabric," said Olden. Strata seeks to solve this by providing integration with Okta, AWS Cognito, Azure AD, Auth-0, Ping Identity and other IAM tools, thereby creating one unified identity flow encompassing multiple apps, capable of applying consistent access controls across the environment and integrating the capabilities of these disparate IAM products. Its solution has also drawn interest due to its multicloud- and multi-vendor-friendly, no-code-driven authentication process.