Total amount raised
$222.5 Millions
Latest funding date
1/1/2024
Location
Silverfort has successfully raised significant funding across multiple rounds, with its latest being a Series D. The company specializes in unified identity protection, offering solutions like multi-factor authentication and identity threat detection.
Keep reading to explore the intricacies of Silverfort's fundraising journey and the investors backing this innovative platform.
What Is Silverfort?
Founded in 2016, Silverfort is based in Tel Aviv, Israel. The company was established by Hed Kovetz, Matan Fattal, and Yaron Kassner.
Silverfort specializes in unified identity protection, offering solutions like Multi-Factor Authentication (MFA), service account protection, and identity threat detection. Their platform is agentless and proxyless, extending security controls across all corporate users, devices, and systems.
With a team of 251-500 employees, Silverfort continues to innovate in the field of identity security, ensuring comprehensive protection for both on-premise and cloud environments.
How Much Funding Has Silverfort Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 2016
- Lead Investors: StageOne Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their unified identity protection platform.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: July 2016
- Lead Investors: StageOne Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional early-stage funding for product development.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and refine their identity protection solutions.
- Series A
- Amount Raised: $11.5M
- Date: June 2018
- Lead Investors: TLV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and enhance product capabilities.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and product development.
- Series B
- Amount Raised: $30M
- Date: August 2020
- Lead Investors: Aspect Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and accelerate market penetration.
- Series C
- Amount Raised: $65M
- Date: April 2022
- Lead Investors: Greenfield Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform and enhance go-to-market strategies.
- Series D
- Amount Raised: $116M
- Date: January 2024
- Lead Investors: Brighton Park Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform with new modules and accelerate go-to-market strategy.
Total Amount Raised: $222M. Current Valuation: Not publicly disclosed.
Key Investors
- Brighton Park Capital
- Details: Brighton Park Capital is a private equity firm that focuses on growth-stage companies. Mike Gregoire, a founding partner at BPC and former CEO of CA Technologies and Taleo, will join Silverfort’s Board of Directors.
- Investment Focus Areas: Technology, healthcare, tech-enabled services
- Notable Investments: Not publicly disclosed
- Greenfield Partners
- Details: Greenfield Partners is an investment firm that focuses on technology and growth-stage investments. They have a strong track record in supporting innovative tech companies.
- Investment Focus Areas: Technology, growth-stage investments
- Notable Investments: SentinelOne, BigPanda
- Aspect Ventures
- Details: Aspect Ventures is a venture capital firm that invests in early to growth-stage technology companies. They are known for their hands-on approach and strategic guidance.
- Investment Focus Areas: Cybersecurity, fintech, enterprise software
- Notable Investments: Exabeam, Chime
- TLV Partners
- Details: TLV Partners is a venture capital firm based in Israel, focusing on early-stage technology startups. They aim to support companies with disruptive technologies.
- Investment Focus Areas: Technology, early-stage startups
- Notable Investments: Not publicly disclosed
- StageOne Ventures
- Details: StageOne Ventures is an early-stage venture capital firm that invests in Israeli technology startups. They focus on companies with strong technological foundations.
- Investment Focus Areas: Technology, early-stage startups
- Notable Investments: Not publicly disclosed
What's Next for Silverfort?
Silverfort stands at the cusp of significant growth opportunities, driven by the increasing demand for robust identity security solutions. With the recent $116 million Series D funding, the company is poised to expand its platform with innovative modules and strengthen its go-to-market strategy through channel partnerships. The global shift towards hybrid and multi-cloud environments presents a vast market for Silverfort's unified identity protection solutions, which can secure even the most fragmented and complex enterprise systems.
Future fundraising opportunities seem promising as Silverfort continues to demonstrate impressive year-over-year revenue growth and a rapidly expanding customer base. The company’s strategic partnerships and the addition of high-profile investors suggest that further rounds of funding or potential acquisitions could be on the horizon to support its ambitious expansion plans. However, Silverfort will need to navigate challenges such as integrating its platform with diverse identity infrastructures and staying ahead of evolving cyber threats to maintain its competitive edge.
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