Thoma
Bravo, a leading private equity investment firm focused on the software and
technology-enabled services sector, today announced a strategic growth
investment in Venafi, the
inventor and leading provider of machine identity management, valuing the
company at $1.15 billion. Thoma Bravo's investment is expected to accelerate
Venafi's technology innovation to capitalize on machine identity management's
growing importance as a cybersecurity trend. Existing investors, TCV and
Foundation Capital, will remain shareholders.
"Machine
identity management is a top priority in cybersecurity because it is
foundational for digital transformation," said Jeff Hudson, CEO of Venafi.
"Humans use usernames and passwords to identify themselves to machines.
Machines also need to identify themselves to each other, but they use machine
identities. Venafi created the category of machine identity management and our
strategic vision remains unchanged: we are committed to creating a world where
all machine identities are trusted and protected. Our strategic partnership
with Thoma Bravo can help us realize our vision by capitalizing on market momentum
and accelerating growth and product innovation."
"We are
thrilled to be partnering with Venafi as they continue to lead the machine
identity protection market and expand their dynamic global customer base," said
Seth Boro, a Managing Partner at Thoma Bravo. "Venafi created the rapidly
growing machine identity management category they continue to lead, and we have
watched the company's growth accelerate as customers recognize the magnitude
and complexity of their machine identity management needs. We look forward to
leveraging Thoma Bravo's operational capabilities and deep understanding of the
cybersecurity market to help drive Venafi's continued growth and market
position."
"As digital
transformation accelerates, it is clear that organizations worldwide have an
urgent need for machine identity management," said Chip Virnig, a Partner at
Thoma Bravo. "Venafi's consistent innovation and market leadership in this
space has put the company in a prime position to continue to define and expand
a global market. We are confident that Thoma Bravo's operating capabilities and
decades-long experience in the cybersecurity market can help supercharge
Venafi's already impressive growth trajectory."