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Newton-based information security firm Cyber-Ark Software is pulling in a $40 million funding round, led by Goldman Sachs and Jerusalem Venture Partners.
As part of the investment, Cyber-Ark will add David Campbell, vice president in the Merchant Banking Division at Goldman Sachs, to the board. JVP founder and chairman Erel Margalit will also be nominated to take on the board chairman role at Cyber-Ark, a news release from the company indicated. The company plans to use the funding proceeds to grow its privileged identity management software and cloud-based offerings.
With JVP and Goldman Sachs buying Cyber-Ark shares from existing shareholders, the two investors join Vertex Venture Capital and Cabaret-ArbaOne as the main shareholders in the company.
Founded in 1999, Cyber-Ark provides software to protect network data in the areas of financial services, health care, manufacturing and consumer goods.
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