Open-source cloud security software provider Ory Corp, today announced that it has raised $22.5M in a Series A round, led by New York-based global private equity and venture capital firm Insight Partners and existing seed investors, Balderton Capital and In-Q-Tel.
Ory plans to use the investment to:
- Grow its cloud operations build-out a planet scale network for identity management and authorization as a service
- Expand its security footprint – establish comprehensive data privacy and GDPR compliant processes along with a Security Operations Center
- Add additional personnel – increase its headcount which has quadrupled since its formation in 2019.
Ory is an open-source company dedicated to simplifying zero trust cloud security for application developers by providing a specialized platform that delivers authorization, authentication, ID management, and API protection. Ory uses these open-source products in its flagship product, Ory Cloud, which provides a low latency global scale network for zero trust security.
“The challenge facing most developers today is complexity. Building cloud software is a new paradigm involving many evolving technologies. Ory simplifies zero trust security by putting ID management, authorization, and access control into one cloud system that is globally distributed and runs using multiple clouds,” said Thomas Aidan Curran, Founder and CEO of Ory. “We look forward to working with Insight as we continue to scaleup for the future.”
“Ory allows companies an increased visibility and control into their users data, with a usage based, cloud native, open-source alternative designed for users frustrated with existing monolithic architecture, lengthy implementation and high cost,” said George Mathew, Managing Director at Insight Partners. “We’re excited to partner with Ory’s strong founding team, with their deep knowledge and experience with open-source, as they continue to grow.”
Ory maintains numerous open-source software products for zero-trust security. Its main products include Ory Kratos for identity management, Ory Hydra for Oauth2 and OIDC, Ory Oathkeeper for reliable and scalable APIs, and Ory Keto for authentication, authorization, access control, and delegation. Ory’s products focus on offering diverse options to easily set up and manage identity platforms, authorization, authentication, and all within one console.
Many developers struggle with the complexities of zero-trust security for cloud computing. In order to reduce friction in onboarding customers, Ory offers features, including identity management and authorization that can be set up for a company’s specific needs. Managing customer-relevant information in a secure infrastructure separate from an organization’s application also has advantages for data privacy, regional compliance for example GDPR, and increased security against data theft.
Ory’s mission is to provide a common access control, authorization and identity infrastructure that manages IAM, and the associated data created in cloud applications. Ory helps its customers manage numerous aspects of data protection and data complexity through its multi-cloud and multi-region architecture. Ory’s open-source community has already reached tens of thousands of people and projects including Blues Wireless, Segment, and Coinbase.
For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybersecurity, go to AI-Techpark.com.
