CyberArk explained

CyberArk Software Ltd.
Type:	Public
Traded As:	NASDAQ:
Industry:	Software
Hq Location City:	Petach-Tikva
Hq Location Country:	Israel
Products:	Privileged Account Security
Revenue Year:	2023
Income Year:	2023
Net Income Year:	2023
Assets Year:	2023
Equity Year:	2023
Num Employees:	3,018 (2023)
Footnotes:	^[1]

CyberArk Software Ltd. is an Israeli publicly traded information security company offering identity management. The company's technology is utilized primarily in the financial services, energy, retail, healthcare and government markets. CyberArk is headquartered in Petach-Tikva.^{[2] [3]} The company also has offices throughout the Americas, EMEA, Asia Pacific and Japan.^[4]

History

CyberArk was founded in 1999 in Israel^{[5] [6]} by current Executive Chairman Udi Mokady^[7] and Alon N. Cohen. They assembled a team of security engineers who implemented the digital vault technology .

In June 2014, CyberArk filed for an Initial public offering (IPO) with the Securities and Exchange Commission, listing 2013 revenues of $66.2 million.^[8] CyberArk became a public company the same year, trading on the NASDAQ as CYBR.^[9] In the years following its IPO, CyberArk made a string of security acquisitions.

• 2015: CyberArk acquired the private Massachusetts-based company Viewfinity, which specialized in privilege management and application control software, for $39.5 million.^[10]
• 2017: CyberArk acquired Massachusetts-based cybersecurity company Conjur Inc., which secured access for software development and IT teams that are building cloud-based software, for $42 million.^[11]
• 2018: CyberArk acquired assets of Boston-based cloud security provider Vaultive. Twenty Vaultive employees, most from the company's research and development team, joined CyberArk.^[12]
• 2019: CyberArk acquired identity startup Idaptive for $70 million.^[13]
• 2024: CyberArk announced the planned acquisition of Venafi from private equity firm Thoma Bravo for a combination of $1 billion in cash and around $540 million in stock; the deal is expected to close by the end of 2024.^[14]

On February 12, 2020 CyberArk said it had over 5,300 customers.^[15]

In May 2022, CyberArk announced the launch of ‘CyberArk Ventures’ a collection to fund Cybersecurity Technology start-ups. The organisation gained $30 million from global investments to empower the new venture, with the aim of funding disruptive technologies. CyberArk aligned with investors including Venrock, Yl Ventures, Team8 Capital and Merlin ventures and has announced the joint investments in Dig Security, Enso Security and Zero Networks.^[16]

On February 9, 2023, cofounder Udi Mokady stepped down from the role of CEO and handed it over to previous COO Matt Cohen.^[17] He became the Executive Chairman of the board.

Notes and References

1. Web site: 2023 Annual Report (Form 20-F) . 13 March 2024 . U.S. Securities and Exchange Commission.
2. Web site: Wrobel . Sharon . 20 May 2024 . Israel's CyberArk inks deal to buy US cybersecurity firm for $1.54 billion . The Times of Israel.
3. Web site: Investor FAQs: Where is CyberArk’s corporate headquarters? . 17 June 2024 . CyberArk.
4. Web site: CyberArk . 2022-12-22 . World Economic Forum . en.
5. Web site: Alspach . Kyle . 13 October 2023 . CyberArk's Operations Are Resilient Amid Israel-Hamas War: CEO . CRN.
6. Web site: Annear . Steve . 20 November 2014 . Suburbs Trying to Woo Israeli Businesses With Designated Tech and Startup Sector . Boston.
7. Web site: Udi Mokady to Step into Executive Chair Role and Matt Cohen to Become CEO . 2023-05-23 . www.cyberark.com . en.
8. Web site: 24/7 Wall St: CyberArk Files for IPO: New Data Security Growth.
9. News: Bloomberg: CyberArk Breaks Israel's Security IPO Silence With Surge. . 24 September 2014 .
10. Web site: CyberArk buys software co Viewfinity for $30.5m. 2015-10-07. Globes. 2016-05-21.
11. News: CyberArk acquires a Newton cybersecurity firm for $42M. May 12, 2017. Boston Business Journal.
12. Web site: Newton-based CyberArk continues string of local security acquisitions. March 12, 2018. Boston Business Journal.
13. Web site: CyberArk snaps up identity startup Idaptive for $70M. TechCrunch. en-US. 2020-05-21. 2022-05-10. https://web.archive.org/web/20220510181506/http://techcrunch.com/2020/05/13/cyberark-snaps-up-identity-startup-idaptive-for-70m/. live.
14. Web site: CyberArk makes bold move with $1.54 billion acquisition of Venafi . CTech . 2024-05-20 . 2024-05-20.
15. News: CyberArk Software Ltd. (CYBR) CEO Udi Mokady on Q4 2019 Results - Earnings Call Transcript. February 12, 2020. Seeking Alpha.
16. 12 May 2022. CyberArk Ventures Launches with $30 Million Fund to Fuel Innovative Cybersecurity Technologies. Business Wire. 12 May 2022.
17. Web site: Udi Mokady to Step into Executive Chair Role and Matt Cohen to Become CEO . 2023-05-23 . www.cyberark.com . en.