US-based cybersecurity technology provider Venafi raised $39m in funding on Tuesday from investors including Intel Capital, which acts as the investment arm of semiconductor company Intel.
Venture capital firm QuestMark Partners led the round, which also featured Silver Lake Waterman, a subsidiary of investment firm Silver Lake, and undisclosed existing investors.
The company plans to use the round to accelerate development of its Venafi Trust Protection Platform, a software service that protects cryptographic keys and digital certificates so they cannot be misused by hackers in cyberattacks.
Raja Patel, vice president of Intel Security Group, said: “Intel Capital believes Venafi, with its unique approach to automating the complex task of managing digital certificates and cryptographic keys, is transforming the way enterprises and government organisations distinguish between what is trusted and what is not.
“We are confident our investment will help Venafi to continue enhancing their offerings and help enterprises protect the integrity of their communications and data.”
Venafi has now raised $72m since it was founded in 2004, according to media reports and regulatory filings. Its previous investors include Foundation Capital, Origin Partners, Mercato and Pelion Venture Partners.