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."