Total amount raised
$125 Millions
Latest funding date
9/1/2023
Location
Veza has successfully raised significant funding through multiple rounds, attracting top-tier investors such as Accel, Bain Capital, and GV. The platform specializes in identity security, offering solutions like Activity Monitoring, Access AI, and Lifecycle Management.
Keep reading to explore the intricacies of Veza's fundraising journey and the investors backing this innovative platform.
What Is Veza?
Veza, founded in 2020, is headquartered in Palo Alto, California. The company was established by Maohua Lu, Rob Whitcher, and Tarun Thakur.
Specializing in identity security, Veza offers a unified platform that consolidates identities across systems for access search, actionable intelligence, automated access reviews, and lifecycle management.
With a team of 101-250 employees, Veza continues to innovate in the field of data security, addressing modern challenges with advanced solutions.
How Much Funding Has Veza Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core platform and establish the company.
- Series C
- Amount Raised: $110M
- Date: April 2022
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and accelerate product development.
- Series C
- Amount Raised: Not publicly disclosed
- Date: June 2022
- Lead Investors: Blackstone Innovations Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market reach and enhance product capabilities.
- Series C
- Amount Raised: $15M
- Date: August 2023
- Lead Investors: Capital One Ventures, ServiceNow Ventures
- Valuation at Round: $415M
- Motivation Behind the Round: To accelerate product development, develop integrations for enterprise systems, and increase go-to-market capacity.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: September 2023
- Lead Investors: The Syndicate Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support expansion efforts and enhance the company's market presence.
Total Amount Raised: $125M. Current Valuation: $415M.
Key Investors
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage companies. They have a strong track record of backing successful technology startups.
- Investment Focus Areas: Technology, early-stage, growth-stage.
- Notable Investments: Facebook, Dropbox, Slack.
- Blackstone Innovations Investments
- Details: Blackstone Innovations Investments is the venture capital arm of Blackstone, a leading global investment firm. They focus on innovative companies that can drive significant value.
- Investment Focus Areas: Private equity, credit, hedge fund investment strategies.
- Notable Investments: Hilton Worldwide, Merlin Entertainments, Refinitiv.
- Capital One Ventures
- Details: Capital One Ventures is the venture capital arm of Capital One Financial Corporation. They invest in companies that align with Capital One's strategic interests.
- Investment Focus Areas: Fintech, data, security.
- Notable Investments: Snowflake.
- ServiceNow Ventures
- Details: ServiceNow Ventures is the venture capital arm of ServiceNow, focusing on companies that can enhance the ServiceNow platform and ecosystem.
- Investment Focus Areas: Enterprise software, cloud services, IT operations.
- Notable Investments: Not publicly disclosed.
- The Syndicate Group
- Details: The Syndicate Group partners with leading technology companies to provide venture capital funding. They focus on strategic investments that can drive growth.
- Investment Focus Areas: Technology companies.
- Notable Investments: Not publicly disclosed.
What's Next for Veza?
Veza stands at the cusp of significant growth, driven by the increasing importance of identity security in the digital age. With $15 million in new funding, the company is poised to accelerate product development, expand its go-to-market capacity, and develop integrations for enterprise systems. The opportunities are vast, as the need for robust identity management solutions continues to rise, especially with the integration of cloud services like Azure Open.AI Service.
Future fundraising seems likely, given the company's ambitious growth plans and the industry's optimistic outlook on cybersecurity investments. However, Veza will need to navigate challenges such as intense competition from established players like SailPoint and Okta, and the rapid pace of technological advancements. Ensuring seamless integration across various platforms and maintaining high security standards will be crucial for sustaining its market position.
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