CyberArk Ventures Launches with $30 Million Fund to Fuel Innovative Cybersecurity Technologies
May 12 2022 - 6:30AM
Business Wire
- CyberArk Aligns with World-Class Investors Including Venrock,
YL Ventures, Team8 Capital and Merlin Ventures to Fund
Cybersecurity 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 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:
- 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
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.
Supporting quotes:
“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.
About CyberArk
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.
Copyright © 2022 CyberArk Software. All Rights Reserved. All
other brand names, product names, or trademarks belong to their
respective holders.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220512005151/en/
Media Contacts: Liz Campbell, CyberArk Email:
press@cyberark.com Highwire PR Email: cyberark@highwirepr.com
Investor Relations: Erica Smith, CyberArk Email:
ir@cyberark.com
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