CyberArk Ventures launches with $30m fund to fuel innovative cyber security technologies
- CyberArk aligns with world-class investors including Venrock, YL Ventures, Team8 Capital and Merlin Ventures to fund cyber security start-ups with disruptive technologies.
- CyberArk announces joint investments in Dig Security, Enso Security and Zero Networks.
CyberArk (NASDAQ: CYBR), the global leader in identity security, today announced the launch of CyberArk Ventures – a $30 million global investment fund designed to empower the next generation of disruptors solving complex security challenges with innovative technology. CyberArk has initially aligned with four strategic venture capital investors: Venrock, YL Ventures, Team8 Capital and Merlin Ventures. CyberArk Ventures also announced today it has completed initial investments in three cyber security start-ups:
- Dig Security: Provides real-time threat detection solutions for data assets hosted in public clouds;
- Enso Security: Application security posture management; and
- Zero Networks: A leading provider of identity-based micro-segmentation.
As the complexity of enterprise IT environments expands and the threat of cyber attacks increase, the focus on protecting endpoints, networks, applications and data – wherever they reside – from unauthorised and/or unintended access has become more important than ever.
“We’re seeking innovative security start-ups that are solving difficult problems for their customers,” said Udi Mokady, founder, chairman and CEO, CyberArk. “Our first three investments are the trifecta – network security, application security and data security. CyberArk Ventures is a natural evolution of our business strategy – giving CyberArk an exciting opportunity to support the next wave of cyber security innovators and nurture an expanded ecosystem of trail blazers.”
In addition to funding, CyberArk Ventures provides portfolio companies with go-to-market support, access to CyberArk technology and CyberArk Labs research, engagement with CyberArk leadership, and networking opportunities with prospective partners and customers. CyberArk Ventures also offers nascent companies guidance and feedback to improve their product design in the hopes of making the product enterprise-ready, while introducing them to valuable channel and design partners.
“We take great pride in helping entrepreneurs tackle hard problems,” said Todd Graham, vice-president, Venrock. “Venrock brings with it years of real-world experience and a passion to help build some of the world’s most disruptive, successful companies. And CyberArk’s engagement, network, passion and experience will give these start-ups an advantage in the market.”
“As singular cyber security investors ourselves, our collaborative relationship with CyberArk comes naturally,” said Ofer Schreiber, partner at YL Ventures. “We both have extensive experience with guiding cyber security innovators with go-to-market in their start-up journey and helping them grow into tomorrow’s global industry leaders, much like CyberArk did as a cyber security trailblazer.”
“Too often, entrepreneurs face limited reach to end customers and lack access to resources and specialised talent. These are challenges that capital alone can’t solve,” said Liran Grinberg, co-founder and managing partner, Team8. “Our relationship with CyberArk will help support technology companies for predictable, long-term success. Working with CyberArk on both product and go-to-market puts companies on the fast track to become category leaders.”
“Merlin’s work with CyberArk began as a channel partner, so we have confidence that this relationship with CyberArk Ventures will be a strong fit,” said Seth Spergel, managing partner at Merlin Ventures. “As security subject matter experts, we understand how enterprise sales work and how to execute successful go-to-market strategies that create value for start-ups looking to rapidly penetrate and scale in the US market.”
For more information on CyberArk Ventures, please visit https://www.cyberark.com/cyberark-ventures.