StrongDM

StrongDM is a Dynamic Access Management platform that provides secure access to technical users and modern tools.

StrongDM
IndustrySoftware
FoundersSchuyler Brown, Elizabeth Zalman, Justin McCarthy
Key people
  • Tim Prendergast (CEO)
  • Schuyler Brown (CCO)
  • Justin McCarthy (CTO)
ProductsPrivileged Access Manager
Number of employees
94
Websitestrongdm.com

Company history

StrongDM was founded in 2015 by Elizabeth Zalman, Justin McCarthy, and Schuyler Brown. The company was one of the first female led startups backed by Hearst's initiative to invest in women led startups.[1] The company received an early investment of $250,000 from HearstLabs.[2]

In 2018 StrongDM released free open source software called Comply which, allows smaller organizations to implement SOC 2 from a developers perspective, in an open source environment. Any organization can download a pre-authored library of 24 policies, edit directly in markdown, track versions with Github, assign compliance tasks through Jira and monitor progress in a unified dashboard.[3]

Elizabeth Zalman continued as CEO[4] until 2021 when Tim Prendergast was appointed new CEO.[5]

Software

StrongDM software is a privileged access manager for aggregating secure access and permissions.[6][7] The platform logs and catalogs every user action which can be reviewed with a video replay.[8] It centralizes backend infrastructure access for legacy or multi-cloud environments. StrongDM also integrates with identity providers, secret stores, and SIEM tools.[9]

StrongDM delivers infrastructure access that work with legacy, cloud, or hybrid environments.[10][9] The platform manages and audits access to servers and databases, providing a single platform to control access to databases for employees, vendors and cloud-based tools.[11][12]

The company combines authentication, authorization, networking and observability into one platform[13] that grants and mediates user access to enterprise backend infrastructure and logs user actions in video replay.[14][15]

Competitors in the field are CyberArk, Delinea, BeyondTrust, Teleport and Perimeter 81.[16][17]

Patents

On January 3, 2023, the company was granted two patents for:

  • USA Granted 11546763, Ulderico Cirello; Justin McCarthy & Britt Crawford, "Managing and monitoring infrastructure access in networked environments", issued Jan 3, 2023[18]
  • USA Granted 11546323, William Jones; Justin McCarthy & Patrick Stephen et al., "Credential management for distributed services", issued Jan 3, 2023[19]

In 2022, the company released a company survey of over 600 IT, devops and security professionals detailing how 53% of companies can take weeks to assign permissions and that over 65% of professionals are using shared logins for sensitive access.[20][21][22][23]

Funding Rounds

As of Jan 7th, 2023 StrongDM has raised over $76,000,000 in venture funds from investors including Bloomberg Beta, Sequoia Capital, Tiger Global and Google Ventures.[24] Billionaire investor and Sequoia Capital's Global Managing Partner, Douglas Leone, joined the board as part of the Sequoia Capital led $17M Series A financing round.[8][25] As a female led Silicon Valley startup under former CEO Elizabeth Zalman, the company raised over $76M in venture capital.

Year Round Amount (USD) Investors
2015Seed$800,000Bloomberg Beta, Data Collective, SocialStarts [26]
2016Seed II$3,000,000True Ventures, Bloomberg Beta, Laconia Capital Group, Social Starts [27]
2020Series A$17,000,000Sequoia Capital[28]
2021Series B$54,000,000[29]Tiger Global, Google Ventures, Sequoia Capital,[30] True Ventures, HearstLab,[2] Bloomberg Beta[31]

References
  1. https://fortune.com/2021/09/15/the-rise-of-the-worlds-most-valuable-female-led-startup/
  2. Kelly, Keith J. (2016-06-22). "Hearst is looking to spend money on women-led startups". NYPost.com. Retrieved 2023-01-09.
  3. https://www.inc.com/kenny-kline/how-this-new-tool-could-help-solve-one-of-startup-worlds-biggest-security-challenges.html
  4. Cai, Kenrick. "The Cloud 100 Rising Stars 2020: Cloud Computing's Next Wave, From Resilia To Roam Research". Forbes. Retrieved 2023-01-09.
  5. Magazine, Authority (2022-09-14). "Tim Prendergast Of strongDM: 5 Things I Wish Someone Told Me Before I Became a CEO". Authority Magazine. Retrieved 2023-01-06.
  6. Sharma, Lakshman (2022-07-28). "Best Privileged Access Management (PAM) Solutions in 2023". Geekflare. Retrieved 2023-01-07.
  7. "The 3 Security Trends Impacting Engineering Workflows". Software Engineering Daily. 2021-12-11. Retrieved 2023-01-10.
  8. Bosilkovski, Igor. "Why Sequoia Just Led A $17 Million Series A In This Access Management Software Startup". Forbes. Retrieved 2023-01-06.
  9. "strongDM Integrates with Okta and Azure AD | DEVOPSdigest". www.devopsdigest.com. Retrieved 2023-01-10.
  10. Bowen, Mark (2022-06-20). "Olive benefits from modern and scalable approach to infrastructure access with strongDM". Intelligent CIO North America. Retrieved 2023-01-07.
  11. EditorApril 03, Jessica DavisSenior; 2016 (2016-04-03). "Microsoft Updates HDInsight, Kafka Training Gets A Boost: Big Data Rou". InformationWeek. Retrieved 2023-01-10.{{cite web}}: CS1 maint: numeric names: authors list (link)
  12. Desk, AIT News (2022-01-21). "Olive Selects Strongdm to Secure Infrastructure Access". AiThority. Retrieved 2023-01-07.
  13. "The Year of Access - Tim Prendergast, strongDM". Techstrong TV. Retrieved 2023-01-07.
  14. Vizard, Mike (2022-07-05). "More Than Half of DevOps Pros Have Backdoor Access to IT Infrastructure". DevOps.com. Retrieved 2023-01-07.
  15. Sharma, Ray. "65% of Organisations Rely on Shared Logins, says strongDM". www.thefastmode.com. Retrieved 2023-01-07.
  16. Wiggers, Kyle (2022-05-03). "Teleport nabs $110M to provide identity-based infrastructure access". TechCrunch. Retrieved 2023-01-09.
  17. Vizard, Mike (2020-11-16). "strongDM Extends Access Management as Code Efforts". DevOps.com. Retrieved 2023-01-07.
  18. "US Patent for Managing and monitoring infrastructure access in networked environments Patent (Patent # 11,546,763 issued January 3, 2023) - Justia Patents Search". patents.justia.com. Retrieved 2023-01-09.
  19. "US Patent for Credential management for distributed services Patent (Patent # 11,546,323 issued January 3, 2023) - Justia Patents Search". patents.justia.com. Retrieved 2023-01-09.
  20. "Access management issues may create security holes | TechTarget". Security. Retrieved 2023-01-13.
  21. "Technical teams are struggling with access issues that impact productivity and security | Security Magazine". www.securitymagazine.com. Retrieved 2023-01-13.
  22. "80% of organisations say infrastructure access is top strategic priority". IT Brief New Zealand. Retrieved 2023-01-13.
  23. Darwen, Catherine (2022-09-22). "57% of organisations take weeks for infrastructure access to be approved". Intelligent SME.tech. Retrieved 2023-01-13.
  24. "63 Top SaaS Startups in the United States - 2022". DEV Community 👩‍💻👨‍💻. Retrieved 2023-01-07.
  25. "strongDM Snares $17M in Series A". vcnewsdaily.com. Retrieved 2023-01-06.
  26. "StrongDM raises $800K to push a new tool for detecting data errors". VentureBeat. 2015-05-11. Retrieved 2023-01-07.
  27. Lynley, Matthew (2016-12-05). "StrongDM raises $3M to keep database info from leaking out". TechCrunch. Retrieved 2023-01-07.
  28. Bosilkovski, Igor. "Why Sequoia Just Led A $17 Million Series A In This Access Management Software Startup". Forbes. Retrieved 2023-01-07.
  29. Selvarajan, Gautham (2021-09-16). "strongDM raises a $54M Series B from Tiger Global". SaaS Industry. Retrieved 2023-01-09.
  30. "strongDM". Sequoia Capital US/Europe. Retrieved 2023-01-06.
  31. "Infrastructure access platform StrongDM raises $54M". VentureBeat. 2021-09-15. Retrieved 2023-01-06.


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