Cloud-Security Leader Ory Corp Taps new CEO and Raises $5 Million in Series A extension

Experienced enterprise security leader Jeff Kukowski joins as CEO and new funding comes from Insight Partners and Balderton Capital.

DOYLESTOWN, PENNSYLVANIA, UNITED STATES, April 29, 2024 /EINPresswire.com/ -- Ory Corp, known for maintaining the most popular open-source ecosystem for authentication, authorization and federation, has appointed Jeff Kukowski as its new CEO. Drawing from his experience at companies like SecureAuth, Yubico (YUBCF), CloudBolt, and Axon (AXON), Jeff brings practical knowledge and a clear vision that will benefit Ory's open-source roadmap and the companies operating within the Ory Network — one of the largest Identity and Access Control Networks in the world.

The increasing adoption of open-source for IAM coincides with market needs for better scale, control and security. Ory's solutions continue to gain momentum within organizations modernizing their identity stacks across multiple sectors today. Meanwhile, mounting complexities and identity-related security risks within modern cloud infrastructures are escalating, further fueling demand for a reliable solution and rapidly expanding the IAM market. With cyberattacks continuing to evolve in sophistication and frequency, protecting digital identities has never been more crucial.

According to a recent 2023 survey, a staggering 90% of organizations encountered at least one identity-related breach in the past year, representing a 7.1% increase from the previous year's figure of 84%. With the number of attacks and breaches expected to rise, Ory's strengths in flexible deployment options and seamless integration into multi and hybrid cloud solutions have been catering to companies needing to modernize how users securely access information.

“Ory has clearly been leading the way for engineers to solve complex challenges that are not well solved by existing market players. Open-source adopters and companies on the Network celebrate their ability to have more granular control, flexibility and security in the way they implement critical access for their workers, their partners and their customers — machines and humans alike. I am excited to work with our community and partners to meet even more of these success-defining challenges,” said Kukowski.

“Jeff is a cybersecurity, multi-cloud and identity and access management professional who understands the complexity of today’s environment. With a track record of putting customers first, he is perfectly suited to help accelerate identity efforts in this complex new world,” said George Mathew, Chairman of Ory Corp and Partner at Insight Ventures.

In related news, Ory has recently closed its Series A extension with an additional $5 million investment, led by Insight Ventures and Balderton Capital. This additional funding will bolster Ory's efforts to fuel product development, enhance customer support, and increase growth marketing initiatives.

“We’re thrilled to welcome Jeff as CEO of Ory. Companies around the world are rethinking user management and access control. Ory offers secure, transparent solutions, uniquely built on top of open source. Jeff’s deep industry knowledge and experience will be invaluable in further accelerating Ory’s growth.” said Colin Hanna, Partner at Balderton Capital.

About Ory Corp.
Ory’s mission is to provide a seamless, world-class access control, authorization and identity platform that provides for the most flexible user experiences and supports the most complex of deployment models, while delivering the integrity and transparency requirements for compliance
and security programs. Ory enables organizations with the ability to rapidly resolve gaps in their existing IAM/CIAM solutions and to easily replace legacy solutions in a frictionless manner.

Ory Cloud facilitates the delivery of a Zero Trust Authentication (ZTA) strategy through the leveraging of our world-class Identity Management, Authorization and Access Control services as part of our highly scalable and globally distributed cloud platform. Ory runs several open-source software projects, such as Hydra, Kratos, Keto and others. Ory operates offices in Doylestown, PA and in Munich, Germany.

About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

About Balderton Capital

Balderton Capital is a multistage venture firm with more than two decades of experience supporting Europe’s best founders from Seed to IPO. We have both early and growth funds and invest across the technology sector, with a proven track record backing fintech, B2B SaaS, digital health, mobility, gaming and marketplace companies. Previous investments include Darktrace (LON: DARK), Depop, Flywire (NASDAQ: FLYW), Kobalt, MySQL, Nutmeg, Peakon, Recorded Future, Talend (NASDAQ: TLND) and THG (LON: THG). Balderton’s current portfolio includes: Aircall, Beauty Pie, Contentful, Dream Games, GoCardless, JOKR, Lendable, Matillon, Merama, Revolut, Tibber, Vestiaire Collective, Voi, Wayve and Zoe.

Contact:
The Ory Network
https://www.ory.sh/
keith.ext@ory.sh

Keith Newman
Newman Media Studios
email us here
Visit us on social media:
LinkedIn