Styra raises $40M from Battery Ventures in a Series B funding

SaaS News -Styra,-the-startup-behind-Open-Policy-Agent,-nabs-$40M(source: SaaS Industry)
At a Glance

Styra, the startup known for creating the open-source tool, Open Policy Agent (OPA), has raised $40 million Series B funding led by Battery Ventures. Previous investors such as A. Capital Ventures, Unusual Ventures, and Accel, alongside new backers CapitalOne Ventures and Citi Ventures, had participated in the funding round.

Reports quoting the startup suggest that these new proceeds shall be injected into its product evolution aspirations, specifically in creating better and more efficient ways to apply authorization policies by coding and bringing in more partners to expand its technological prowess. Their total funding raised from three rounds stands at $54 million with the close of the latest round, as per Crunchbase data.

Styra offers a platform for companies to monitor their authorization policies across cloud-native applications. In a world where cloud-native apps grow in significance, their OPA, which manages authorization for cloud-native application environments, is used across cross Kubernetes, containerized, and other settings.

 It has about 75 million downloads at present, adding some 1 million downloads weekly. Big players like Netflix, Capital One, Atlassian, and Pinterest are using OPA for internal authorization purposes.

With an increasing shift to remote working comes the need for workloads to be managed across several platforms. Authorization becomes an issue when one has to monitor the many access points involved. In such recent times, Styra has proved itself in the business. 

Commenting on the investment, Dharmesh Thakker, General Partner at Battery Ventures, who will join the Styra board with this round, said that he was highly impressed with the progress of Styra in today’s dynamic market.

Everyone who is moving to the cloud, and adopting containerized applications, needs Styra for authorization, and in the light of today’s new, remote-first work environment, every enterprise is now moving to the cloud,

Dharmesh Thakker, General Partner at Battery Ventures

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