Venafi® Secures $100 Million Financing Round Led by TCV
Machine identity protection provider Venafi® secured a $100 million round of financing led by TCV, with additional participation from existing investors QuestMark Partners and NextEquity Partners. TVC has also backed Airbnb, Alarm.com, Cradlepoint, Genesys, Netflix, Rapid7, Silver Peak, Splunk, Spotify, and Zillow. As part of the transaction, TCV General Partner Jake Reynolds will join Venafi’s board of directors.
In addition to fueling growth, the company plans to make $12.5 million of the investment available to third-party developers in the first tranche of the new Machine Identity Protection Development Fund. Venafi created the fund to sponsor the integration of machine identity intelligence into a wide range of machines and further enhance and expand the machine identity ecosystem. The fund is designed to allow developers—including consultancies, systems integrators, startups, open source developers, and cybersecurity vendors—to build integrations that deliver greater visibility, intelligence, and automation for Venafi customers.