Veza, the Data Security Platform Built on the Power of Authorization, Announces Blackstone as a Customer and Strategic Series C Investor
22.6.2022 19:00:00 EEST | Business Wire | Press release
Veza, the data security platform built on the power of authorization, announced an investment in their Series C funding round from Blackstone Innovations Investments, along with participation from previous investors. To date, Veza has raised a total of $110 million from top-tier investors including Accel, Bain Capital, Ballistic Ventures, GV, Norwest Venture Partners, True Ventures, and others. Blackstone has also selected Veza to help modernize its data security and access governance.
Veza empowers organizations to address today’s greatest cybersecurity challenge: who can and should take what action on what data. As the world increasingly moves online, our changing behaviors are driving a transformational shift toward multi-cloud data systems, apps, computing, and infrastructure. This shift creates a complex, distributed web of human identities, accounts, apps, services, and access points that are constantly changing and susceptible to vulnerabilities. To address this, Veza takes a comprehensive approach that pulls together authorization data from disparate systems, giving customers a single source of truth to manage data access and controls.
“Having a world-class cybersecurity program that protects our brand, reputation, investors and intellectual property is of paramount importance to our firm, and we are continuing to incorporate innovative technology solutions,” says Adam Fletcher, Chief Security Officer at Blackstone. “Our team is always looking for ways to develop a more comprehensive view of access across all of our applications and cloud infrastructure to allow us to modernize the firm’s access controls. We are excited to partner with Veza to help us accomplish this.”
“Blackstone Innovations Investments is committed to investing in cutting-edge technology companies that we believe will have a meaningful impact on Blackstone, our portfolio companies, and the broader industry. We look forward to working with Veza and their impressive leadership team as they enter this next phase of growth,” comments Stevi Petrelli, Head of Blackstone Innovations Investments.
“Institutions across multiple industries view Blackstone as an example of exceptional technology deployment and cybersecurity expertise,” says Tarun Thakur, CEO and Co-Founder of Veza. “Veza has greatly benefited from Blackstone’s product feedback and market insights. We are thrilled to work with Blackstone’s Security team to further modernize data security for their hybrid and multi-cloud environment.”
Additional investment in Veza comes from notable entrepreneurs including Dheeraj Pandey, Co-founder & CEO, DevRev and former CEO, Nutanix, and Lars Dalgaard, Founder Luv Ventures, Founder & Former CEO, SuccessFactors.
“Authorization is the source of truth when it comes to understanding who has access to what,” says Dheeraj Pandey, Co-Founder and CEO of DevRev. “Understanding authorization at scale is one of the hardest problems to address and I am excited to watch team Veza bring on a new era of identity, rooted in authorization. Veza is defining authorization as a standard for protecting data against ransomware and other forms of data breach.”
“Entrepreneurs will tell you that company building is one of the hardest, yet rewarding experiences, with real potential to make an impact,” says Lars Dalgaard, Founder Luv Ventures, Founder & Former CEO SuccessFactors. “When evaluating any company, I look for deep technical breakthrough for a massive market opportunity, deal composition and company traction, and passion amongst founders. And, I’m very excited to be partnering with Tarun and Veza on the mission to build an iconic company that will revolutionize the data security industry for decades to come.”
About Veza
Veza is the data security platform built on the power of authorization. Our platform is purpose-built for hybrid multi-cloud environments to help you use and share your data safely. Veza makes it easy to understand, manage, and control who can and should take what action on what data. We organize authorization metadata across identity providers, data systems, cloud service providers, and applications — all to address the toughest data security challenges of the modern era. Founded in 2020, the company is funded by top-tier investors including Accel, Bain Capital, Ballistic Ventures, Blackstone, GV, Norwest Venture Partners, and True Ventures. To learn more, please visit us at veza.com. Many Fortune 500, Fortune 1000 and smaller organizations use its data security platform for protection against ransomware, modernizing access governance for critical data and apps, and implementing data lake security for Snowflake and other solutions. Follow Veza on LinkedIn or on Twitter @vezainc.
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $915 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.
Learn more about Veza:
Get started with Veza Free Trial
Veza for Snowflake Access Governance
Modernize Privileged Access for Data
Explore Veza’s Open Authorization API (OAA) for SaaS applications (GitHub, and more)
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Teju Shyamsundar
tshyamsundar@veza.com
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