Connect with us

Hi, what are you looking for?


Cybersecurity Funding

Venafi Becomes Unicorn After Investment From Thoma Bravo

Private equity firm Thoma Bravo on Thursday announced a strategic growth investment in machine identity solutions provider Venafi.

Private equity firm Thoma Bravo on Thursday announced a strategic growth investment in machine identity solutions provider Venafi.

Exact terms of the deal have not been disclosed, but SecurityWeek has been told that Thoma Bravo has acquired a majority stake in Venafi. The deal values the company at $1.15 billion, which makes Venafi a cybersecurity “unicorn.” Previous investors, Foundation Capital and TCV, will remain shareholders.

The deal was announced nearly two years to the day after Venafi secured $100 million in a funding round led by TCV. The company says the latest funding will help it accelerate technology innovations.

Venafi offers solutions for orchestrating digital certificates and crypto keys for SSL/TLS, code signing, SSH, IoT and mobile systems. Its customers, which Venafi claims include 25 of the Fortune 50 firms, are provided visibility into machine identities and associated risks.

“We are thrilled to be partnering with Venafi as they continue to lead the machine identity management 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,” Boro added.

Over the past years, Thoma Bravo has acquired many major cybersecurity firms, including Sophos ($3.9 billion), ExostarCentrifyLogRhythmBarracuda Networks (for $1.6 billion), Veracode (for $950 million), and Imperva ($2.1 billion).

Advertisement. Scroll to continue reading.

Related: Venafi Acquires Kubernetes Services Provider Jetstack

Related: Akamai Acquires Asavie for Its Mobility, IoT Services

Related: Cisco Acquires Kubernetes-Native Security Platform Portshift

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join security experts as they discuss ZTNA’s untapped potential to both reduce cyber risk and empower the business.


Join Microsoft and Finite State for a webinar that will introduce a new strategy for securing the software supply chain.


Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Identity & Access

Zero trust is not a replacement for identity and access management (IAM), but is the extension of IAM principles from people to everyone and...

CISO Strategy

SecurityWeek spoke with more than 300 cybersecurity experts to see what is bubbling beneath the surface, and examine how those evolving threats will present...

CISO Conversations

Joanna Burkey, CISO at HP, and Kevin Cross, CISO at Dell, discuss how the role of a CISO is different for a multinational corporation...

CISO Conversations

In this issue of CISO Conversations we talk to two CISOs about solving the CISO/CIO conflict by combining the roles under one person.

CISO Strategy

Security professionals understand the need for resilience in their company’s security posture, but often fail to build their own psychological resilience to stress.

Cyber Insurance

Cyberinsurance and protection firm Boxx Insurance raises $14.4 million in a Series B funding round led by Zurich Insurance.