CyberArk launches $30M investment fund to advance security
CyberArk has announced the launch of CyberArk Ventures, a $30 million global investment fund dedicated to advancing the next generation of disruptors solving complex security challenges with technology.
CyberArk has initially aligned with four venture capital investors: Venrock, YL Ventures, Team8 Capital and Merlin Ventures.
In addition to the above, CyberArk Ventures also announced that it has completed initial investments in three cybersecurity start-ups:
- Dig Security: Provides real-time threat detection solutions for data assets hosted in public clouds
- Enso Security: Application Security Posture Management
- Zero Networks: A leading provider of identity-based microsegmentation
CyberArk founder, chairman and CEO Udi Mokady says, “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. 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 cybersecurity 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, the company states.
CyberArk Ventures also offers nascent companies guidance and feedback to improve their product design in hopes of making the product enterprise-ready, while introducing them to channel and design partners.
The company's initial venture capital investors commented on the announcement:
Venrock vice president Todd Graham says, “We take great pride in helping entrepreneurs tackle hard problems. 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."
YL Ventures partner Ofer Schreiber says, “As singular cybersecurity investors ourselves, our collaborative relationship with CyberArk comes naturally. We both have extensive experience with guiding cybersecurity innovators with go-to-market in their startup journey and helping them grow into tomorrow's global industry leaders, much like CyberArk did as a cybersecurity trailblazer.”
Team8 co-founder and managing partner Liran Grinberg says, “Too often, entrepreneurs face limited reach to end customers and lack access to resources and specialised talent. These are challenges that capital alone cant solve.
"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 Ventures managing partner Seth Spergel says, “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.
"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."