Ory, a Doylestown-based information technology startup, has secured $22 million in Series A funding to change how identity is managed in the cloud.
The round was led by Insight Partners with participation from existing seed investors, Balderton Capital, and In-Q-Tel. The capital will allow Ory to grow its cloud operations, expand its security footprint, and bring new members to its team, which has quadrupled since 2019. George Mathew, Managing Director at Insight Partners, referred to the firm’s participation in the round by stating:
“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. 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.”
Founded in 2019, Ory is looking to change how identity is thought of in the tech industry by providing common access control, authorization, and identity infrastructure that makes it easier to interact with cloud applications. The startup has developed several open-source solutions for zero-trust security, including Kratos for identity management, Hydra for Oauth2, Oathkeeper for APIs, and Keto for authentication, providing developers with innovative ways to manage user identity. Thomas Aidan Curran, Founder and CEO of Ory, said in this regard:
“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.”
The cloud is becoming an increasingly relevant resource for applications and organizations around the world, which has changed how customer-relevant information needs to be secured. Ory is providing developers with a means to store and secure this information in a secure infrastructure separate from the application, facilitating compliance with regulations such as GDPR while facilitating identity management and integration.