Cloud security firm Strata Identity raises $11M

Dan Mika

BOULDER — Security software maker Strata Identity Inc. has raised $11 million in its third round of fundraising, more than triple what it had previously raised in venture capital.

In a statement, the Boulder-based Strata said the round was led by California-based Menlo Ventures, of which partner Venky Ganesan will join Strata’s board. The company plans to use the funds to further develop its research and business efforts.

Strata develops software to manage security and identity verification for websites that use multiple ways to log in rather than requiring a separate account specifically for that site. For example, Google, Yahoo!, Facebook Inc. (Nasdaq: FB) and Twitter Inc. (Nasdaq: TWTR) feature services allowing users to use their accounts on those services to sign into various e-commerce sites.

The company has not filed a fundraising disclosure to the U.S. Securities and Exchange Commission as of Tuesday morning. It previously raised just more than $3.26 million in two earlier rounds, according to prior SEC data.

© 2021 BizWest Media LLC

on Facebook on LinkedIn