Nasdaq-listed identity security technology provider CyberArk has launched a $30m global investment vehicle to support companies focused on security issues.
IT landscapes are growing in complexity, which opens networks and applications to potential attacks. This leads to a requirement for an enhanced focus on protecting endpoints – access points to a network, such as mobile devices – the networks themselves and other data to fend off cyber threats like ransomware attacks, which can have a profound effect on revenue and trust.
The new unit, called CyberArk Ventures, will focus on backing companies working on cyber and identity security technology. It will provide access to CyberArk’s technology, go-to-market support, networking opportunities, research from CyberArk Labs and contact with CyberArk’s leadership.
It has already made its first three investments in application security posture management provider Enso Security, real-time threat detection technology provider Dig Security and identity verification platform Zero Networks.
Founded in 1999, CyberArk provides identity verification services for any user across multiple platforms including distributed work and business applications.
CyberArk said the freshly minted unit has aligned in strategic partnerships with four venture capital firms, namely Venrock, YL Ventures, Team8 Capital and Merlin Ventures.
CyberArk’s founder and chief executive, Udi Mokady, said: “We are 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 trailblazers.”
