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CyberArk launches $30m startups fund that involves channel

CyberArk launches $30m startups fund that involves channel

Security player CyberArk has announced a $30m global investment fund, and has unveiled the first three startups it is giving cash to.

The CyberArk Ventures initiative is partnering with Venrock, YL Ventures, Team8 Capital and Merlin Ventures.

The first three security startups to get initial investments are: Zero Networks, a provider of identity-based network micro-segmentation that helps to stem and mitigate attacks, including ransomware; Dig Security, which provides real-time threat detection for data hosted in public clouds; and Enso Security, which offers application security posture management.

In addition to funding, CyberArk Ventures provides portfolio companies with go-to-market support, access to CyberArk technology and its labs research, and networking opportunities with prospective partners and customers.

“CyberArk Ventures offers nascent companies guidance and feedback to improve their product design to make the product enterprise-ready, while introducing them to valuable channel and design partners,” the company said.

Udi Mokady, chief executive of CyberArk, added: “We’re seeking innovative security startups that are solving difficult problems for their customers.

“CyberArk Ventures is a natural evolution of our business strategy, supporting the next wave of cyber security innovators and nurturing an expanded ecosystem of trailblazers.”