Venafi, Inc. Due Diligence

Run due diligence on Venafi, Inc.: check compliance and get alerts when suppliers or ownership change.

United States · owned by Palo Alto Networks (United States) · www.venafi.com · 33 vendors

Venafi is a machine identity security company, originally founded in Salt Lake City, Utah, specializing in protecting cryptographic keys and digital certificates (TLS/SSL, SSH, code signing, and PKI). It was acquired by CyberArk in 2024 and now operates as CyberArk Machine Identity Security, providing certificate lifecycle management, secrets management, and workload identity solutions. Its platform is trusted by over 55% of Fortune 500 companies to secure machine identities across enterprise environments.

Resilience scores

Technology vendors

Services catalogue

1 service in catalogue across 1 category; runs on 33 sub-vendors.

Insights

Last updated 2026-07-30 · revision 1

33 direct vendors, 243 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

7 in-scope frameworks identified; showing 3.

NIST Cybersecurity Framework — No public evidence

Evidence: https://www.nist.gov/cyberframework, https://www.cyberark.com/solutions/government/

SOC 2 (source) — No public evidence

Evidence: https://www.cyberark.com/venafi-and-cyberark-machine-identity-security/, https://www.cyberark.com/products/machine-identity-security/, https://www.aicpa-cima.com/resources/landing/soc-2-reporting-on-an-examination-of-controls-at-a-service-organization-relevant-to-security-availability-processing-integrity-confidentiality-or-privacy

NIS2 (source) — No public evidence

Evidence: https://www.cyberark.com/company/office-locations/, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32022L2555, https://www.cyberark.com/venafi-and-cyberark-machine-identity-security/

Financials

Three-year financials

Financial Resilience Score: 8/10

Venafi demonstrates strong financial resilience despite limited public disclosure. As a category leader in machine identity management with approximately US$150M ARR at the time of its May 2024 acquisition by CyberArk, the company has shown consistent growth from ~US$115M ARR in 2020 to ~US$150M ARR in 2024, representing roughly 30% growth over 3.5 years under Thoma Bravo ownership. The subscription-based recurring revenue model provides high revenue visibility and predictability. The company's resilience is further supported by its blue-chip customer base (over 55% of Fortune 500 as part of the combined machine identity portfolio), strong structural tailwinds from the explosive growth in machine identities (outnumbering human identities by ~82:1), and consecutive acquisitions by well-capitalized owners (Thoma Bravo → CyberArk → Palo Alto Networks) that have progressively increased scale and financial backing. However, resilience is tempered by lack of standalone public reporting since 2020, undisclosed leverage profile from PE ownership, and significant integration risk from two major acquisitions within 18 months. Competitive pressures from cloud-native CLM offerings and shorter TLS certificate lifespans also present ongoing challenges.

Key strengths: Category leadership in machine identity management (Gartner, KuppingerCole leader quadrant), Recurring subscription revenue model with ~$150M ARR, Blue-chip customer base including majority of world's largest banks and US federal agencies, Strong structural tailwinds from machine identity growth (82:1 vs human identities), Successive acquisitions by financially strong owners (Thoma Bravo, CyberArk, Palo Alto Networks), Low customer concentration risk with no single customer >10% of revenue, Acquisition multiple of ~10x ARR indicates strong market valuation

Risk factors: No standalone public financial reporting since 2020 take-private, Integration risk from two major acquisitions within 18 months, Competitive pressure from cloud-native CLM (AWS/Azure/Google) and free ACME/Let's Encrypt, Shorter TLS certificate lifespans may pressure legacy PKI/CLM vendors, Loss of 'Venafi' brand following rebrand to CyberArk Machine Identity Security, Undisclosed leverage profile from PE ownership, Potential customer churn and workforce attrition during integration

Revenue by geography

Workforce by country

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