The startup specializes in providing a better way to visualize identity security risks, and its technology will be folded into the ServiceNow security portfolio, the tech giant says.
ServiceNow announced Tuesday that it has reached an agreement to acquire identity security startup Veza, in a major expansion of the tech giant’s cybersecurity offerings.
Terms of the deal were not disclosed, but a report from The Information had pegged the agreement in the vicinity of “at least” $1 billion. CRN has reached out to ServiceNow for comment.
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Veza’s founders, including CEO Tarun Thakur (pictured), had previously worked for tech vendors such as Datos IO, which was acquired by Rubrik in 2018.
Launched in 2020, Veza specializes in helping organizations to improve their security around access permissions and privileges across SaaS, data platforms, cloud and on-premises environments.
Key capabilities include the Veza Access Graph, which aims to offer a better way to visualize identity security risks—ultimately enabling security teams to more easily spot anomalous and risky permissions, Veza has said.
Veza’s technology, including its “industry-first” Access Graph, will be combined with ServiceNow’s AI Control Tower as well as with agentic workflows, ServiceNow said in a news release Tuesday.
The combination will offer partners and customers a single view of identity risk and provide “control of every identity in their organization,” the vendor said in the release.
Veza, which had been recognized numerous times in CRN lists for channel-friendly startups, had been ramping up its expansion with channel partners since at least 2023. At the time, Veza had raised an undisclosed amount of funding from The Syndicate Group, an investment firm whose network includes more than 450 companies in the channel.
An executive at one Veza partner, Socium Security, told CRN at the time that Veza’s identity security platform has offered a simplified approach to addressing issues such as complexity and lack of visibility, which also can be implemented rapidly.
Most recently, Veza had raised a $108 million Series D funding round in April led by New Enterprise Associates, which brought with it an $808 million valuation for the startup. The company has raised a total of $235 million in funding to date as of the latest round.
