Centrify has inked a definitive agreement with Chicago-based private investment firm Thoma Bravo, under which the latter will acquire a major stake in the Santa Clara based cyber security specialist from its current venture capital investors led by Mayfield, Accel, Jackson Square Ventures and Index Ventures.
“We couldn’t be more thrilled to partner with this world class investor who has invested in other great cybersecurity companies like SailPoint, McAfee, Barracuda and others,” said Centrify CEO and co-founder Tom Kemp. “We believe that this transaction optimally positions us to accelerate our pace of innovation in the areas of Privileged Access Management and Identity-as-a-Service, and will further our ability to implement our vision of Zero Trust Security.”
Kemp said the move would enable Centrify to focus on its core mission of helping enterprises protect themselves from the top cybersecurity attack vector — compromised user identities.
“As an independent, private company with an experienced, like-minded investor, we will have the financial backing and flexibility to continue investing in customer success, product innovation (organically or through acquisition), and growth in support of our long-term vision and roadmap,” he added.
“It’s also worth noting that we did not make this move out of necessity. Centrify just closed another very successful fiscal year, with bookings in the final quarter exceeding bookings we have achieved in any prior fiscal quarter,” Kemp noted.
Centrify expects the investment to close in the third quarter of this year, subject to usual and customary closing conditions and regulatory approvals.