Cole Grolmus’ Post

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Founder, Strategy of Security

CyberArk is cybersecurity's next billion-dollar company. They are imminently going to hit $1 billion of ARR next quarter – one of only ~50 total cybersecurity businesses ever to do so. CyberArk's total ARR was at at $926 million this quarter *without* Venafi (the deal just closed, so revenue wasn't factored in yet). Venafi adds $164 million of ARR starting next quarter. Total ARR for the combined entity is forecasted at $1.15-$1.16 billion, easily clearing the $1 billion mark. This is such a huge milestone – and a pretty under-appreciated one so far. We'll probably see more recognition once it technically becomes official in Q4, but they've essentially hit the mark already. This quarter feels like a major inflection point for CyberArk going forward: They have a new CEO, and soon a new CFO. They're going to hit $1B ARR. The $1.54B deal for Venafi just closed. They're all in on building a converged workforce identity platform for both humans and machines. Amazing story with so much to be excited about in their next chapter.

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Alex Bodryk

Information Security Officer @Netcracker, xBP I Security Architecture I Risk Assessment I Travel Security I Security Audits I Incident Response I Digital Transformation I Cloud Security | CISA | ITIL Expert

1w

How much they might cost for an acquisition?

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Francis Odum

Founder @ Software Analyst Cybersecurity Research

1w

Major inflection point for them.. Up next will be how they tackle the NHI market for SaaS/Cloud since Venafi was slightly more focused on PKIs for on-prem. They are one of the few vendors with a solid MOAT in cyber. Definitely a company to watch. Surprised I overlooked them for so long, until this year. Many things are going right here...

Cole Grolmus thank you for this analysis. 2025 and beyond looks bright!

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