By one account, over 90% of enterprises are using multiple cloud service providers. It gives them greater flexibility, more leeway for switching vendors, and helps with regulatory compliance - and sometimes, as with M&As, it’s just the bloat involved with combining multiple businesses. The more clouds, however, the more decentralized (and therefore cumbersome) the management of access privileges, as each cloud uses a different IAM.
So Strata Identity’s Maverics platform provides an increasingly valuable service to a growing addressable market. It’s an abstraction layer designed to centralize operations across different cloud identity and datacenter systems so they can all be operated from a common layer, without rewriting applications, including more dated legacy systems that aren’t easily interoperable.
Strata Identity has received impressive funding to scale sales and marketing, as well as invest in go-to-market and customer success initiatives. Whilst the identity management market is growingly competitive - startups like Ping Identity and Okta have grown astronomically, and of course, there’s competition from major players like Microsoft - this could play in the company's favor. This is because its platform helps stitch these different systems together, so the more of them out there to manage, the greater its value.
Freddie
Company Specialist at Welcome to the Jungle
