In June 2014, CyberArk filed for an initial public offering (IPO) with the Securities and Exchange Commission, listing 2013 revenues of $66.2 million.[8] CyberArk became a public company the same year, trading on the NASDAQ as CYBR.[9] In the years following its IPO, CyberArk made a string of security acquisitions. In 2015, CyberArk acquired the private Massachusetts-based company Viewfinity, which specialized in privilege management and application control software, for $39.5 million.[10] In 2017, CyberArk acquired Massachusetts-based cybersecurity company Conjur Inc., which secured access for software development and IT teams that are building cloud-based software, for $42 million.[11]
In 2018 CyberArk acquired assets of Boston-based cloud security provider Vaultive. Twenty Vaultive employees, most from the company's research and development team, joined CyberArk.[12] In 2019, CyberArk acquired identity startup Idaptive for $70 million.[13] In 2022, it announced it was expanding its R&D center at the Gav-Yam Negev Tech Park inBeersheba, which it had opened in May 2021.[14] In 2023, CyberArk announced new details about its upcoming Artificial Intelligence Center of Excellence, designed in part by CyberArk Labs.[15]
Udi Mokady, a founder, led the company for 18 years. In 2023, he left the CEO role and became chairman of the board.[16] Matt Cohen was named CEO[17] on February 9, 2023 after previously serving as COO.[18] On October 2, 2024, CyberArk completed its acquisition of Venafi, a machine identity management company,[19] from the firm Thoma Bravo for around $1.54 billion.[20] Matt Cohen was CyberArk CEO.[21] In August 2024, it announced annual revenue of $886 million. Subscription revenue made up 78% of that amount.[22][23]
Products
It sells subscriptions to what it has titled an Identity Security Platform.[22] Among other products, as of 2015 it has a Privileged Account Security Platform to "privileged accounts and an organisation' sensitive information." The platform aims to stop hackers from entering computer systems via either a breach of administrator or key account holder privileges.[24]
