Cyber-Ark Closes $40M, Looks to Go Big in Security
Strange name. Big money. Newton, MA-based Cyber-Ark Software said today it has raised $40 million in investment led by Goldman Sachs and Jerusalem Venture Partners. The deal includes the purchase of stock from existing shareholders as well as growth capital. Cyber-Ark had previously raised $25 million in venture and angel capital.
Cyber-Ark works in the field of information security and identity management software. Basically it helps businesses, banks, and other organizations manage user privileges, sensitive data, and applications security, while protecting against insider threats. Cyber-Ark has been profitable, with 37 percent revenue growth in 2010. The company, which started in 1999, has 170 employees worldwide. It also has the distinction of making my top 10 “boring companies that are actually interesting” list from earlier this year.
This has been a busy fall for New England security software companies. Back in October, IBM acquired Waltham, MA-based Q1 Labs the same Intel’s McAfee snapped up New Hampshire-based NitroSecurity. And last month, Boston-based Rapid7 said it raised a $50 million round on the same day as CounterTack said it had raised $9.5 million and was moving to the Boston area from Virginia.