Investment bank Goldman Sachs has co-led the $40m round for Israel-based Cyber-Ark Software, which provides identity management software to eight of the top 10 banks and more than a third of the 1,000 largest enterprises.
News provider Globes said the portoflio company was valued at $200m for the latest round.
David Campbell, a vice-president in the merchant banking division at Goldman Sachs, will join the portfolio company’s board as a new investor. He said: "Cyber-Ark has significant customer traction with some of the world’s largest enterprises and a history of producing cutting edge security software."
Venture capital (VC) firm Jerusalem Venture Partners (JVP) was the other co-lead in the round as a repeat backer of its portfolio company and the money will buy shares from existing shareholders as well as provide growth capital to Cyber-Ark. The other remaining large shareholders are VC firms Vertex Venture Capital and Cabaret-ArbaOne, which is a joint venture between ArbaGroup and Cabaret Security.
From its website, CyberArk said its other investors had been investment bank JP Morgan and Seed Capital Partners, an early stage venture fund formed in affiliation with Japan-based internet company Softbank’s Hotbank brand of incubators.
Alon Cohen, who is being replaced as chairman by JVP’s founder Erel Margalit after selling some of his shares, founded Cyber-Ark in 1999 alongside Udi Mokady. The company had previously raised a reported $25m.