Silverfort Acquires Rezonate to Expand Cloud Identity Security

Deal News | Nov 13, 2024 | PR Newswire Cision Silverfort Ltd

Silverfort, a leading identity security firm, has announced the acquisition of Rezonate, a cloud-focused identity security innovator. This acquisition aims to provide the most comprehensive identity security platform across both on-premise and cloud environments for human and non-human identities. The integration of Rezonate's capabilities into Silverfort's platform will be completed by mid-2025, enhancing security silos, improving operational efficiencies, and providing a unified view of identity threats. Silverfort's rapid growth, exemplified by over 100 new customers each quarter and a significant revenue increase, supports their strategic expansion. Previously, Silverfort raised $116 million in Series D funding, facilitating the realization of this strategic vision.

Sectors

  • Cybersecurity
  • Cloud Computing
  • Enterprise Software

Geography

  • United States – The article mentions Boston, the location of the announcement, indicating a focus on this geography.

Industry

  • Cybersecurity – This industry is relevant as the acquisition focuses on enhancing security protocols for identity protection across cloud and on-premise environments.
  • Cloud Computing – Rezonate's capabilities in cloud identity security highlight the involvement of this sector as the acquisition aims to strengthen Silverfort's cloud security offerings.
  • Enterprise Software – Silverfort's platform provides enterprise-wide solutions, indicating the relevance of this industry in their service offerings.

Financials

  • $116M – Silverfort recently raised $116 million in Series D funding, fueling its strategic expansion and acquisition initiatives.

Participants

NameRoleTypeDescription
SilverfortAcquiring CompanyCompanySilverfort is a leading identity security company focused on providing a unified platform for identity security across enterprise environments.
RezonateTarget CompanyCompanyRezonate is an innovator specializing in cloud identity security, focusing on Non-Human Identities (NHI) and cloud-first security solutions.
Roy AkermanCEO and Co-Founder of RezonatePersonRoy Akerman is the CEO and Co-Founder of Rezonate, overseeing its strategic vision and growth.
Hed KovetzCEO and Co-Founder of SilverfortPersonHed Kovetz is the CEO and Co-Founder of Silverfort, leading the company in its expansion and innovation in identity security.