Mercato Expects Venafi Technology to Transform the Security Space
Growth stage investor Mercato Partners, which focuses primarily on technology and consumer brands, believes one of its portfolio companies, Venafi, will change the future of the security space.
Joe Kaiser, a director at Mercato Partners, touted Venafi’s new technology as a means for companies to protect their machine identities. Kaiser noted that the number of machines coming online and onto networks is growing exponentially due to the current digital transformation.
“The ironic thing is corporate America spends $8 billion a year protecting the human user, but only a fraction of that protecting the machine user,” Kaiser said at the Silicon Slopes Tech Summit in Salt Lake City, Utah, which brought together more than 20,000 people to discuss new trends and technologies that are advancing the broader tech industry.
“The bad guys know this, so their attacks to acquire these machine identities is growing both in number and sophistication at an alarming rate,” Kaiser continued. “Venafi has invented technology that provides the visibility, the intelligence and the automation to really protect those machine identities for the most secure and the largest companies around the world today.”
Salt Lake City-based Mercato backed Venafi through its Mercato Fund II, which had a fund size of $122 million and invested in a total of nine companies. More recently, Venafi closed a $100 million round of financing.
Aside from Venafi, Mercato has invested in Cradlepoint, a networking products provider, and machine learning company Ephesoft, Kaiser said.
“We’ve had the good fortune of investing in a lot of great brands,” Kaiser said.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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