Venafi, a US-based cybersecurity technology developer backed by semiconductor company Intel, raised $100m in a funding round yesterday led by growth equity firm Technology Crossover Ventures.
The round included venture capital firm QuestMark Partners and growth investor NextEquity Partners.
Founded in 2004, Venafi provides an automated software platform that shields machine identities from cyberattacks by protecting cryptographic keys and digital certificates.
In addition to supporting the company’s growth plans, $12.5m of the investment will be made available to third-party developers through Venafi’s Machine Identity Protection Development Fund.
Consultancies, systems integrators, startups, open source developers and cybersecurity vendors can apply for sponsorship through the fund to develop new technologies.
In 2015, Venafi raised $39m in a funding round that included Intel Capital, QuestMark Partners, which led the round, and Silver Lake Waterman, a subsidiary of investment firm Silver Lake.
That round reportedly took Venafi’s total funding to $72m. The company has not disclosed details about any previous rounds but counts Foundation Capital, Origin Partners, Mercato and Pelion Venture Partners as investors.