This is the Styra pitch deck to raise a $40m series-b round in 2021.
About
Styra offers a platform that allows companies to enforce and monitor authorization policies across cloud-native applications. Styra delivers a fully managed Open Policy Agent platform with a built-in library of policies that allow customers to implement authorization policy-as-code. Prerunning supports the monitoring and validating of policy changes before committing, mitigating risk predeployment. Meanwhile, declarative models outline the desired state to prevent security drift and eliminate errors before they occur.
Styra works with cloud-native APIs to define, enforce, and keep tabs on policies before runtime. The platform takes in a business context and outputs security decisions across namespaces and clusters, letting customers write policy once and enact it where necessary.
Open source developer startup Styra raised fresh funding to create the standard for authorization, which allows developers to control what a user can or cannot do once they log into an app.
The firm announced a $40 million Series B funding led by Battery Ventures with participation from previous investors, A. Capital, Unusual Ventures, and Accel, as well as new investors Capital One, and Citi Ventures. The startup has raised $67.5 million in total, according to PitchBook.
“Many people tend to confuse authorization with authentication,” CEO of Styra Bill Mann told Insider. “Through usernames, passwords and two-factor authentication, apps are able to confirm users’ identities, but what users and machines can and can’t do after they are authenticated has been left behind. That is where Styra comes in.”
Typically, developers would need to spin up their own code to implement policies that grant or deny a user permission to access something in their app, but Styra automates the process. Major firms like Netflix, Capital One, and Pinterest use the startup’s open source engine for authorization policies, dubbed Open Policy Agent (or OPA). Since its launch in 2016, it has racked up 65 million downloads total. Alongside its free open source engine, Styra sells a commercial product (Capital One is an actual paying customer).
Styra plans to use this new round of funding to double its staff by the end of 2021, particularly through hiring workers for its developer advocacy team.
“We’ve had inbound interest from many investors since our Series A funding round in 2019,” Mann said. “We focused on finding investors that have strong experience working with open source companies.”
Funding rounds
| Announced Date | Transaction Name | Number of Investors | Money Raised | Lead Investors |
| May 18, 2021 | Series B – Styra | 7 | $40M |
Battery Ventures
|
| Nov 12, 2019 | Series A – Styra | 3 | $14M | Accel |
| Jan 1, 2016 | Seed Round – Styra | 1 | — | — |
| July 15, 2015 | Seed Round – Styra | 1 | — | — |
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