Thoma Bravo announces strategic growth investment in Venafi

Thoma Bravo

Thoma Bravo, a leading private equity investment firm focused on the software and technology- enabled services sector, today announced a strategic growth investment in Venafi ® , the inventor and leading provider of Machine Identity Management, which valued the company at $ 1.15 billion. Thoma Bravo’s investment is expected to accelerate Venafi’s technological innovation to capitalize on the growing importance of machine identity management as a cybersecurity trend. Existing investors, TCV and Foundation Capital, will remain shareholders.

“Machine Identity Management is a top priority in cybersecurity because it is fundamental to digital transformation,” said Jeff Hudson, CEO of Venafi. “People use usernames and passwords to identify themselves to machines. Machines also need to identify with each other, but they use machine identities. Venafi created the category of machine identity management and our strategic vision remains unchanged: We are committed to creating a world where all machine identities are trusted and protected. Our strategic partnership with Thoma Bravo can help us achieve our vision by harnessing the dynamics of the market and accelerating growth and product innovation. ”

“We are very excited to partner with Venafi as the company continues to lead the machine identity management market and expand its dynamic global customer base,” said Seth Boro, Managing Partner at Thoma Bravo. “Venafi created the rapidly growing category of machine identity management that it continues to lead, and we have watched the company grow faster as customers realize the scale and complexity of their machine identity management needs. We look forward to leveraging Thoma Bravo’s operations and deep understanding of the cybersecurity market to drive Venafi’s continued growth and market position. ”

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“As digital transformation accelerates, it is clear that organizations worldwide have an urgent need for machine identity management,” said Chip Virnig, partner at Thoma Bravo. “Venafi’s continued innovation and leadership in this area has placed the company in a prime position to continue to define and grow a global marketplace. We are confident that Thoma Bravo’s operations and decades of experience in the cybersecurity market can help drive Venafi’s already impressive growth path. ”

Kirkland & Ellis is serving as legal advisor to Thoma Bravo. JP Morgan Securities is acting as financial advisor to Venafi.