SAN FRANCISCO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/Business?src=hash” target=”_blank”gt;#Businesslt;/agt;–RSA Conference Booth 6359 — Venafi®,
the leading provider of machine identity protection, today announced
strong business growth and accelerated sales momentum in 2018.
“Protecting machine identities is Venafi’s only business,” said Jeff
Hudson, CEO of Venafi. “We invented the technology that protects machine
identities and this extraordinary focus makes it possible for us to
deliver unmatched success to our customers and in the marketplace.
Security leaders choose Venafi because we are the only company that
delivers a robust, scalable, battle-tested machine identity protection
Over the past year, Venafi saw significant growth and success across
every part of its business, including:
Increased subscription revenues over 50 percent while customer renewal
rates remained above 95 percent.
Extended the company’s robust intellectual property portfolio to 32
Closed a $100 million round of financing, led by TCV, with
additional participation from existing investors QuestMark Partners
and NextEquity Partners.
Launched the Machine
Identity Protection Development Fund, which sponsors a range of
developers – including consultants, systems integrators, fast-moving
startups, open-source developers and other cybersecurity vendors.
Three developers received direct sponsorship from the first $12.5
million tranche in 2018. The goal of the fund is to help accelerate
the delivery of comprehensive protection for all machine identities
including DevOps, multi-cloud and IoT devices.
In late 2018, Venafi expanded its executive leadership team, adding
Shivajee Samdarshi as vice president of engineering. With more than 20
years of experience overseeing the development of mission-critical
enterprise software, Samdarshi brings a wealth of technical knowledge to
Venafi and will help the company expand its development of cutting-edge
machine identity protection solutions. He previously held senior
leadership positions at WhiteHat Security and TIBCO Software.
Venafi also added Cathy Donahoe as the chief of team, talent and
culture. Donahoe, who previously served as vice president of human
resources at Domo, brings over 30 years of experience in talent
management and acquisition. In her new role, Donahoe will utilize her
extensive expertise to build and foster a successful and profitable team
as the company expands its global footprint.
Venafi delivers innovative machine identity protection solutions for the
world’s most demanding, security-conscious Global 5000 organizations and
government agencies, including the top five U.S. health insurers; the
top five U.S. airlines; the top four credit card issuers; three out of
the top four accounting and consulting firms; four of the top five U.S.
retailers; and four of the top five banks in each of the following
countries: U.S., U.K., Australia and South Africa.
Hudson concluded,“The world is undergoing a dramatic digital
transformation, and now our very existence depends upon machines. In
order to get access to networks and services, people rely on user names
and passwords to identify themselves. Machines also need to be
identified, but they don’t use usernames or passwords; instead, they
rely on machine identities. This year organizations will spend $10
billion protecting human identities and almost nothing protecting
machine identities. The bad guys know this and they’re dedicating more
time and resources to obtaining machine identities, so they can use them
in attacks. Venafi is the only provider that delivers the technology
needed to protect machine identities.”
Venafi is the inventor and cybersecurity market leader in machine
identity protection, securing connections and communications between
machines. Venafi protects machine identity types by orchestrating
cryptographic keys and digital certificates for SSL/TLS, IoT, mobile and
SSH. Venafi provides global visibility of machine identities and the
risks associated with them for the extended enterprise—on premises,
mobile, virtual, cloud and IoT—at machine speed and scale. Venafi puts
this intelligence into action with automated remediation that reduces
the security and availability risks connected with weak or compromised
machine identities while safeguarding the flow of information to trusted
machines and preventing communication with untrusted machines.
For more information, visit: www.venafi.com.