StrongDM, a US-based database access and compliance software developer backed by media companies Bloomberg and Hearst, has raised $17m in a series A round led by venture capital firm Sequoia Capital.
The round also featured all the company’s existing backers. It had received a total of about $5m from investors including Bloomberg Beta, the VC firm backed by Bloomberg, as well as Hearst unit HearstLab, Data Collective, SocialStarts, True Ventures, Laconia Capital Group and Jerry Neumann as of late 2018.
Founded in 2015, StrongDM is the creator of a single sign-on (SSO) user authorisation system for backend IT inrastructure. Doug Leone, managing partner at Sequoia Capital, joined its board of directors in conunction with the round.
Leone said: “While SSOs solved this problem for web applications more than a decade ago, there has never been an equivalent for backend infrastructure.
“We partnered with StrongDM because we believe that any company with a database or server needs this product. It is no surprise that their customers are obsessively loyal.”
