Identity Security Company Veza Announces $15M Funding Round Led by Capital One Ventures and ServiceNow
Funding Round Info:
Veza, a platform dedicated to enhancing identity access security across applications, data systems, and cloud infrastructure, has revealed the successful completion of a funding round. The round, which raised $15 million, was prominently backed by Capital One Ventures and ServiceNow, consequently establishing the company's valuation at $415 million. This latest injection of funds elevates Veza's total capital raised to $125 million. Tarun Thakur, the co-founder and CEO, emphasized that these funds will be directed towards advancing product development, amplifying Veza's sales capabilities, and bolstering its go-to-market strategy.
About Veza:
Veza specializes in identity security. Utilized by both identity and security teams, Veza serves the purpose of enhancing identity access security across a range of platforms, including SaaS apps, on-premises apps, data systems, and cloud infrastructure. What sets Veza apart is its distinctive capacity to intake and organize permissions metadata within the Veza Authorization Graph, effectively addressing the limitations of conventional identity tools. Renowned global enterprises such as Blackstone, Wynn Resorts, and Expedia rely on Veza to gain insights into access permissions, oversee permissions-related activities, automate access reviews, and rectify instances of privilege violations. Commencing its journey in 2020, Veza has its headquarters in Los Gatos, California, and receives financial backing from notable investors including Accel, Bain Capital, Ballistic Ventures, GV, Norwest Venture Partners, and True Ventures.
About Capital One Ventures:
Founded in 2015, Capital One Ventures is a venture capital arm of Capital One Financial based in McLean, Virginia. Capital One Ventures starts by delving into an extensive comprehension of Capital One's strategic focal points, markets, and technologies. Prospective businesses spanning various sectors and phases of investment are identified. Concordance with entrepreneurs regarding the strategic basis for the investment is established. Subsequently, provision of direction concerning product and business advancement, along with interaction with Capital One, is extended to portfolio companies.
About ServiceNow Ventures:
ServiceNow Ventures, the corporate venture arm of ServiceNow, will target investments in early stage companies that develop cloud-based applications, built on its platform, as well as growth stage vendors developing strategic technology integration with the ServiceNow platform.The firm invests in early-stage ventures, late Stage ventures, and seed investments. This firm usually funds series B and series C rounds. The notable investment portfolio of the ServiceNow Ventures includes Baffle, Factor 5, Maria DB, Mobichord, Nuvolo, Saleswon, Skymind, etc.