CyberArk Launches $30M Venture Fund for Cybersecurity Startups
CyberArk, an identity and access management (IAM) solutions provider, has announced CyberArk Ventures, a $30 million global investment fund backed by venture capital firms Venrock, YL Ventures, Team8 Capital and Merlin Ventures.
The fund is designed to empower organizations to develop and launch technologies to address cybersecurity challenges, according to a prepared statement. It also provides portfolio companies with go-to-market support, access to CyberArk technology and CyberArk Labs research and networking opportunities with CyberArk leadership and prospective partners and customers.
CyberArk Ventures Invests in 3 Cybersecurity Startups
Along with announcing the fund, CyberArk Ventures has invested in the following cybersecurity startups:
- Dig Security: Provides threat detection solutions for data assets hosted in public clouds.
- Enso Security: Specializes in application security posture management.
- Zero Networks: Delivers identity-based microsegmentation.
These investments represent the “trifecta” of network security, application security and data security, CyberArk CEO Udi Mokady said. Going forward, CyberArk will continue to invest in cybersecurity startups and help them deliver security technologies to meet the needs of global organizations.
Security Venture Funds Embrace MSP, MSSP Partner Strategies
Meanwhile, some security-focused venture funds are starting to pay far more attention to startup sales models, and multi-tenant support for MSPs and MSSPs.
For instance, CrowdStrike Falcon Fund, the venture capital arm of CrowdStrike, is starting to pay more attention to security startups that have MSP- and MSSP-friendly product designs and associated go-to-market strategies.
Several key CrowdStrike investments may help MSPs and MSSPs to find security tools that address such areas as SaaS application and data security; threat intelligence; SOAR (security orchestration, automation and response); and patch management automation.