I am pleased as CEO and co-founder of Centrify to announce that Centrify has entered into a definitive agreement whereby Thoma Bravo, a leading high-growth private investment firm with a significant track record in cybersecurity, will acquire a majority interest in Centrify from our current venture capital investors led by Mayfield, Accel, Jackson Square Ventures and Index Ventures. We couldn’t be more thrilled to partner with this world class investor who has invested in other great cybersecurity companies like SailPoint, McAfee, Barracuda and others.
We believe that this transaction optimally positions us to accelerate our pace of innovation in the areas of Privileged Access Management and Identity-as-a-Service, and will further our ability to implement our vision of Zero Trust Security.
A copy of the press release announcing the transaction can be found in our News Room on Centrify.com.
This investment lets us focus on our core mission of helping enterprises protect themselves from the top cybersecurity attack vector — compromised user identities. As an independent, private company with an experienced, like-minded investor, we will have the financial backing and flexibility to continue investing in customer success, product innovation (organically or through acquisition), and growth in support of our long-term vision and roadmap.
It’s also worth noting that we did not make this move out of necessity. Centrify just closed another very successful fiscal year, with bookings in the final quarter exceeding bookings we have achieved in any prior fiscal quarter, and we are well-positioned to continue that growth as the only “Leader” in both the Forrester Wave™ Privileged Identity Management (PIM) and Identity-As-A-Service (IDaaS) reports. In short, we believe this is a strategic next step for Centrify.
To our customers, let me say our entire team remains committed to you and our mission. This investment will also let us further enhance the overall customer experience we deliver to you. There will be no change in day-to-day operations stemming from this transaction and you will continue to work with your usual points of contact at Centrify.
To our partners, our entire team remains committed to our partnership with you and our mutual customers. As is the case with our customers, there will be no change in day-to-day operations or our partner programs stemming from this transaction and you will continue to work with your usual points of contact at Centrify.
To our original investors, thank you so much for putting the faith and trust in the entire Centrify team and seeing this company evolve from three founders – myself, Adam Au and Paul Moore – who showed up at your doorstep looking for funding, to a company that serves over five thousand customers spanning the public and private sectors, including blue-chip Global 2000s, across diverse industries including defense, banking, energy, retail, manufacturing and health care.
To AJ Rohde and Carl Press and the rest of the Thoma Bravo team, we are super-excited to join with you in the next chapter of Centrify. Having an experienced partner like Thoma Bravo not only ensures we take advantage of existing market opportunities, but also positions us to continue to lead in this growing industry of identity and access management and the broader market for Zero Trust Security. We look forward to expanding our footprint with you both organically and through M&A.
Finally, to our employees, thank you so much for the great company you have helped us build. And a special tip of the hat to my co-founders Adam and Paul who have stuck together with me through thick and thin and have been a pleasure to work with over 14 years.
We expect this investment to close in the third quarter of this year, subject to usual and customary closing conditions and regulatory approvals.
In summary, Centrify becomes an even stronger leader in the Zero Trust ecosystem and is more empowered to help our customers better address the primary attack vector, which is identity. This is another major milestone in our journey, and we have no intention of taking our foot off the pedal.