CyberArk Ventures Launches with $30 Million Fund to Fuel Innovative Cybersecurity Technologies
May 12, 2022 at 06:30 AM EDT
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 venture capital investors: Venrock, YL Ventures, Team8 Capital and Merlin Ventures. CyberArk Ventures also announced today that it has completed initial investments in three cybersecurity start-ups:
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 unauthorized 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 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. 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 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 cybersecurity investors ourselves, our collaborative relationship with CyberArk comes naturally,” said Ofer Schreiber, partner at YL Ventures. “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.”
“Too often, entrepreneurs face limited reach to end customers and lack access to resources and specialized 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 U.S. market.”
For more information on CyberArk Ventures, please visit https://www.cyberark.com/cyberark-ventures.
CyberArk (NASDAQ: CYBR) is the global leader in Identity Security. Centered on privileged access management, CyberArk provides the most comprehensive security offering for any identity – human or machine – across business applications, distributed workforces, hybrid cloud workloads and throughout the DevOps lifecycle. The world’s leading organizations trust CyberArk to help secure their most critical assets. To learn more about CyberArk, visit https://www.cyberark.com, read the CyberArk blogs or follow on Twitter via @CyberArk, LinkedIn or Facebook.
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Cautionary Language Concerning Forward-Looking Statements
This release contains forward-looking statements, which express the current beliefs and expectations of CyberArk’s (the “Company”) management. In some cases, forward-looking statements may be identified by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential” or the negative of these terms or other similar expressions. Such statements involve a number of known and unknown risks and uncertainties that could cause the Company’s or CyberArk Ventures’ future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: the companies in which CyberArk Ventures invests may fail to achieve expected results; the duration and scope of the COVID-19 pandemic and the impact of the pandemic and actions taken in response, on global and regional economies and economic activity and the resulting impact on the demand for the cybersecurity solutions; changes to the drivers of growth in the cybersecurity industry and the ability to adapt solutions to IT security market demands; real or perceived shortcomings, defects or vulnerabilities in cybersecurity solutions or internal network systems; and other factors discussed under the heading “Risk Factors” in the Company’s most recent annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.