Styra, Inc., a Redwood City, Calif.-based leader in cloud-native authorization, raised a $40m Series B funding.
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. In conjunction with the funding, Dharmesh Thakker, General Partner at Battery Ventures, will be joining the Styra board.
The company intends to use the funds to double its current team by the end of 2021, initially in its product management, customer success, open source and go-to-market departments, to invest in employee career growth, people operations and diversity.
Led by Bill Mann, CEO, Styra 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 allow developers, DevOps and security teams to mitigate risks, reduce human error and accelerate application development.
From a product perspective, the company plans to use 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 and continue to foster the community culture of collaboration and innovation.