Cloud-Security Provider Ory Corp Raises $22 Million in Series A Round Led by Insight Partners
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.
Ory is an open-source software company for zero trust security. Ory Cloud combines the primitives of zero trust including identity management, authorisation and access control in a globally distributed cloud network. Ory runs a number of open-source software projects Hydra Kratos, and Keto. 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 is a distributed organization with headquarters in Doylestown, PA and offices in Munich, Germany. The open-source project was started in 2015 by Thomas Aidan Curran and Aeneas Rekkas who later formed a commercial entity for the purpose of building a cloud business in 2019. Ory's founders are open-source leaders with experience at SAP, Deutsche Telekom, Microsoft, and Deutsche Börse Group.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.