Cyber-Ark will use the proceeds to further accelerate growth, while capitalizing on its position as a market leader in Privileged Identity Management, one of the fastest growing segments within the $4 billion Identity and Access Management market1. In both traditional data centers and in the cloud, managing access to accounts and data is at the core of delivering system security and trust. Following the round, Cyber-Ark's main shareholders will include JVP, Goldman Sachs, Vertex Venture Capital and Cabaret-ArbaOne.
"As one of the Company's longest-standing investors, we are strong believers in building large international companies," commented Gadi Tirosh, General Partner at JVP. "Cyber-Ark has grown and evolved substantially over the past decade and, as it reaches this inflection point, we look forward to now taking it to the next level working together with our new partner Goldman Sachs and the company's management.”
“We were attracted to Cyber-Ark’s leading technology solutions in the large and fast growing market of securing corporate cyber assets,” noted David Campbell. “Cyber-Ark has significant customer traction with some of the world’s largest enterprises and a history of producing cutting edge security software. The Company’s top class management team has a strong track record of demonstrating consistent and profitable growth.”
In recent years, Cyber-Ark has experienced significant customer growth, expanding to nearly 1000 enterprise customers worldwide, including 8 of the Top 10 global banks and more than 35 percent of the Fortune 100 companies. Cyber-Ark’s solutions enable its customers to proactively protect their organizations against insider threats and advanced external threats. Cyber-Ark’s award winning product suites have also been selected by large cloud and hosting providers as part of their standard cloud fabric to secure their customers’ systems and data. In addition to growing its customer base, Cyber-Ark presented strong sequential revenue growth throughout 2011, generating a healthy cash flow and continued profitability – with increasing contribution from its 100 global channel partners.
“We are excited about the strong vote of confidence Cyber-Ark has received from JVP, as well as the opportunity to welcome the prominent global investment group, Goldman Sachs, into the company. We look forward to leveraging this substantial investment to further expand and build on our market leadership and global presence in the Privileged Identity Management space. In addition, we will drive continued innovation in enterprise class solutions to protect against advanced internal and external information security threats,” concluded Udi Mokady, President and CEO of Cyber-Ark Software.
“As Cyber-Ark’s co-Founder, I’m both proud and excited about this transaction that will enable several of the company's longer standing partners, including myself, to capitalize on many years of dedication towards building this company into a prominent security leader. I strongly believe that as Cyber-Ark transitions to its next phase of growth, JVP and Goldman Sachs will be best suited to lead the Company in its continued global expansion,” added Alon N. Cohen, Co-Founder and outgoing Chairman of Cyber-Ark Software.