Private equity firm Thoma Bravo agreed on Tuesday to acquire a majority stake in Centrify, a US-based identity management technology provider backed by corporates Samsung, Docomo and Fortinet, for an undisclosed sum.
Thoma Bravo is buying the stake from Centrify’s venture capital investors, and the company identified Mayfield, Accel Partners, Jackson Square Ventures and Index Ventures as some of the selling shareholders.
Founded in 2004, Centrify has developed cybersecurity technology that verifies the identity of each user and device that connects to a network, whether internally or externally, restructing access for suspicious parties.
The company has also developed machine learning technology to detect suspicious behaviour and offer conditional access without lowering user experience. It had raised a total of $94m in equity funding.
Samsung Ventures and Docomo Capital, respective subsidiaries of electronics producer Samsung and mobile network operator NTT Docomo, took part in Centrify’s $42m series E round in 2014 alongside cybersecurity software provider Fortinet.
Accel, Sigma West and Mayfield also participated in the series E round,according to TechCrunch, though they were not named in the press release issued by Centrify at the time.
Index Ventures led a $16m series D round for the company in 2011 with participation from Mayfield, Accel, Invesco Private Capital and Sigma Partners, after Sigma had led a $15m series C round in 2007 featuring Mayfield, Accel and Invesco.
Invesco had already led the company’s $14m series B round in 2005 with contributions from Mayfield and Accel. Centrify reportedly raised $7m in series A funding in 2004, though details of that round could not be confirmed.