Business Wire

Styra Raises $40 Million in Series B Funding to Drive Access, Security and Compliance in Cloud-Native Applications

Share

Styra, Inc., the founder of Open Policy Agent (OPA) and leader in cloud-native authorization, has raised a $40 million Series B funding round to continue driving the reinvention of policy and authorization for cloud-native applications. The round was led by Battery Ventures with participation from previous investors, A. Capital, Unusual Ventures, and Accel, as well as new investors at Capital One Ventures and Citi Ventures. With this funding, Dharmesh Thakker, General Partner at Battery Ventures, will be joining the Styra board. The round further solidifies its market leadership and provides capital to accelerate its founders’ vision—to create the standard for authorization—which started with OPA.

OPA, initially proven out at scale by the likes of Netflix, Capital One, Atlassian, Pinterest and others, has now reached the point of over one million downloads per week. Styra has also seen exponential business traction in 2020, achieving 300% customer and commercial growth year-over-year, and 90% headcount increase.

OPA and Styra Declarative Authorization Service (DAS), the commercial control plane for OPA, address two related but separate inflection points—cloud migration/digital transformation, and the need to rethink authorization. Accelerated by the new requirements for remote work, legacy apps are being migrated to the cloud in earnest and new apps are cloud-native from the start. In both cases that means apps are shifting to a containerized model, are running on Kubernetes and utilize DevOps/CICD processes.

“Our vision has always been to create the standard for authorization—the control over what a user or service can do—and our OPA project has become just that,” said Bill Mann, CEO of Styra. “It’s exciting for OPA and Styra to be at the forefront of cloud-native, shift left, zero trust, and developer-centric architectures. This funding proves the validity of the authorization market for cloud-native applications and solidifies Styra as the leader in this critical market space.”

With this funding, Styra will double its current team by the end of 2021, initially in its product management, customer success, open source and go-to-market departments. The team will support enterprise deployments as well as ramp up business development and ecosystem partnerships. Additionally, the company plans to invest in employee career growth, people operations and diversity—ensuring it is bringing both cultural diversity and broad industry experience into the organization.

From a product perspective, the company plans to utilize this funding to enhance Styra DAS with new policy-as-code use cases across the cloud-native stack, and expand integrations with key technology partners. Additionally, Styra will expand its open source and developer advocacy team, ensuring OPA users find success at every stage of their journey. Styra will also continue to foster the community culture of collaboration and innovation that has made OPA so successful.

Intersection of digital transformation and cloud-native authorization

Digital transformation has become a top priority for enterprises in the wake of a global pandemic. The unprecedented demand for remote work requires a shift to cloud-native application development, in order to provide better uptime, reliability and efficiency. However, new cloud-native architectures and an “everything-as-code” landscape means that authorization is more critical than ever before. This includes what parts of the app can talk to each other, who/what can access certain components of the app, what can exist in production and more. Given the possibilities are far more complex than on legacy monolithic applications, a new method for performing authorization is required.

“We are extremely impressed with the Styra team and the progress they’ve made in this dynamic market to date,” said Battery’s Thakker. “Everyone who is moving to the cloud, and adopting containerized applications, needs Styra for authorization—and in the light of today’s new, remote-first work environment, every enterprise is now moving to the cloud.”

Added René Bonvanie, a former Palo Alto Networks executive who is now an executive in residence at Battery and was involved in the deal: “In 11 years working at one of the largest public cybersecurity companies, I saw no one who had managed to solve authorization for the cloud-first world. Styra is filling that void, and we are very excited about what’s ahead.”

OPA has been proven in production with over 75 million downloads—which increased nearly 600% in 2020 alone—and is deployed in some of the largest cloud-native environments in the world. On top of this, the Cloud Native Computing Foundation announced that OPA met the criteria to achieve graduated status in February 2021, making it the only graduated project to solve for authorization. Styra DAS enables enterprises to deploy, monitor and manage OPA at scale. The combination of OPA and Styra DAS ensures that authorization and access in today’s complex environments can be controlled and audited across teams, clusters and clouds.

Learn more about securing your cloud-native solutions with Styra.

About Styra

Styra, the founders of Open Policy Agent (OPA), provides open source and commercial solutions that enable enterprises to define, enforce and monitor authorization policy across their cloud-native applications, as well as the infrastructure they run on. Styra policy-as-code solutions let developers, DevOps and security teams mitigate risks, reduce human error and accelerate application development. Learn more at styra.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Victoria Johnson
Walker Sands for Styra
victoria.johnson@walkersands.com
312-235-4317

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Amazon Becomes Largest Corporate Buyer of Renewable Energy in the U.S.23.6.2021 12:00:00 CEST | Press release

Amazon (NASDAQ: AMZN) today announced 14 new renewable energy projects in the U.S., Canada, Finland, and Spain to advance its ambitious goal to power 100% of company activities with renewable energy by 2025—five years ahead of the original target of 2030. The new projects bring Amazon’s total renewable energy investments to date to 10 gigawatts (GW) of electricity production capacity—enough to power 2.5million U.S. homes. Amazon is now the largest corporate buyer of renewable energy in the U.S. and the world. The latest utility-scale solar and wind projects will supply renewable energy for Amazon’s corporate offices, fulfillment centers, and Amazon Web Services (AWS) data centers that support millions of customers globally. These projects will also help Amazon meet its commitment to produce enough renewable energy to cover the electricity used by all Echo devices in use. These new projects support hundreds of jobs while providing hundreds of millions of dollars of investment in local c

Quanta Raises $245 Million to Accelerate Commercialization of its SC+ Portable Hemodialysis System23.6.2021 12:00:00 CEST | Press release

Quanta Dialysis Technologies Ltd (“Quanta” or the “Company”), a medical technology leader delivering on its vision for more flexible and accessible dialysis care, announced today that it has raised $245 million in an oversubscribed and upsized Series D round, the largest private funding round for a dialysis device company in history. “We are delighted to attract such a strong syndicate of investors, which represents a clear vote of confidence in our innovative approach to dialysis treatment,” said John E. Milad, CEO of Quanta. “Everybody knows that dialysis care must improve. For this to happen, providers and physicians need products that allow greater flexibility to bring dialysis directly to the patient, while simplifying complexity and reducing the overall cost of care. Our small, simple-to-use, and powerful dialysis system SC+ is positioned to help transform kidney care. The funding we are announcing today will allow us to accelerate our emergence as a significant force in this mar

AntChain Launches Developer Support Program to Foster Global Collaboration on Blockchain and Other Innovations23.6.2021 10:50:00 CEST | Press release

AntChain, Ant Group’s technology brand, today launched a developer community support program at its first developer conference. The program is designed to further foster trusted industry collaboration networks with blockchain, secure computing, IoT, and other innovative technologies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210623005429/en/ Geoff Jiang, President of Ant Group’s Intelligent Technology Business Group (Photo: Business Wire) This new program will bring AntChain's technical know-how and industry experience to partners and developers across a variety of platforms. Among them, the AntChain open technology platform will serve to accelerate the development of blockchain applications as well as reduce costs, while the AntChain open business ecosystem will help connect partners and developers with complementary business opportunities and operational resources. A new talent certification system has also been put i

Teijin Receives Additional Approval in Japan for Merz’s Xeomin ® Botulinum Toxin Type A23.6.2021 10:00:00 CEST | Press release

Merz Therapeutics, a business of the Merz Group and a leader in the field of neurotoxins, and Teijin Pharma Limited, the core company of the Teijin Group’s healthcare business, jointly announced today that Teijin Pharma has been granted additional approval by Japan’s Ministry of Health, Labor and Welfare (MHLW) to market Xeomin® (incobotulinumtoxinA) for intramuscular injection in 50, 100 or 200 units for the treatment of lower limb spasticity. Lower limb spasticity is a symptom of upper motor neuron syndrome, which is expressed mainly by increased muscle tone of limbs and the hyperexcitability of the stretch reflex as a sequela of stroke. The main symptoms are difficulty in normal walking and increased risk of falling due to trunk instability, complicating or impeding activities in daily life. Conventional treatment of lower limb spasticity includes physical rehabilitation and the use of oral muscle relaxants or neuromuscular blockers such as botulinum toxin type A. Stefan Brinkmann,

B2B Payment Provider, ZTL, Selects Napier’s Anti-financial Crime Solutions23.6.2021 10:00:00 CEST | Press release

RegTech company, Napier, provider of advanced anti-financial crime compliance solutions, has announced its AI-led technology has been chosen by emerging Norwegian FinTech, ZTL Payment Solution. Napier will supply the B2B payment provider with Transaction Screening, Transaction Monitoring and Client Screening. These tools will enhance ZTL’s ability to identify suspicious activity related to money laundering through transaction monitoring, while also identifying potential risk of breaching sanctions with screening solutions. Founded in 2018, ZTL’s platform integrates with accounting system providers via API building blocks, providing a customized solution to facilitate for payments directly from the accounting system. ZTL will use Napier’s screening and monitoring solutions to meet regulatory compliance obligations, spot suspicious activities, and mitigate money laundering and sanctions risks. Andreas Bjerke, CEO at ZTL, said: “We are one of the first Norwegian licensed payment providers

ISAE-SUPAERO Announces Its New Specialized Master's Degree23.6.2021 09:30:00 CEST | Press release

The Institut Supérieur de l'Aéronautique et de l'Espace (ISAE-SUPAERO) in Toulouse now offers a professional certification in Artificial Intelligence and Data Science, based on the Specialized Master's Degree® AIBT (Artificial Intelligence & Business Transformation. Offered in partnership with TBS Education and IRT Saint-Exupéry, this part-time training program prepares professionals, apprentices and young graduates for this new profession that is in high demand on the job market. Admissions are open until September 15, 2021. This certification will be offered from the beginning of the new academic year to professionals, apprentices aged 25 to 30 and young graduates (Bac+5) wishing to prepare for the job of "Project Manager in Artificial Intelligence and Data Science (MS)". Certified by the RNCP number 35609, this training is entirely taught in English. This registration in the National Directory by France Compétences allows professionals to mobilize their CPF (Personal Training Accoun

TYAN to Bring AI and HPC Optimized Server Platforms at ISC 202123.6.2021 09:00:00 CEST | Press release

TYAN®, an industry-leading server platform design manufacturer and a MiTAC Computing Technology Corporation subsidiary, continues its strong presence at ISC 2021 and joins the “#ISC21” platform from June 24th to July 2nd to exhibit its latest AI and HPC server platforms for data centers and enterprises. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210623005008/en/ TYAN’s AI and HPC Server Platforms Built Upon AMD EPYC 7003 Series Processors and 3rd Intel Xeon Scalable Processors to Deliver Performance for Data Centers (Photo: Business Wire) “Digital transformation has accelerated the increasing amount of data created and consumed. Data centers need to evolve and respond to the global digital economy by incorporating technologies such as artificial intelligence and machine learning”, said Danny Hsu, Vice President of MiTAC Computing Technology Corporation's Server Infrastructure Business Unit. “TYAN’s AI and HPC server plat

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom