Who Owns CyberArk Company?

Who owns CyberArk today?

When CyberArk debuted on NASDAQ in 2014, its shares jumped nearly 90%—a signal of identity-security’s market rise. Founded in 1999 in Israel, the company now serves over 9,000 customers and dual-headquarters in Petah Tikva and Newton.

Institutional investors now dominate CyberArk’s cap table, reflecting its shift from founder-led ownership to public governance and global asset-manager control; see product analysis at CyberArk Porter's Five Forces Analysis.

CyberArk was co‑founded in 1999 by Udi Mokady and Alon N. Cohen, who leveraged military intelligence experience to address administrative password risks; early equity was founder‑centric but rapidly diluted by venture rounds. Jerusalem Venture Partners led the Series A and remained a major shareholder into the 2014 IPO.

Founders and backgrounds

Udi Mokady and Alon N. Cohen, childhood friends, combined technical and operational expertise to found the company in Israel in 1999.

Early ownership split

Initial equity was primarily split between the two founders; specific late‑1990s percentages were later diluted by institutional funding rounds.

Series A investor

Jerusalem Venture Partners (JVP) provided Series A capital and played a decisive role in governance and growth strategy.

Other early backers

Goldman Sachs and Vertex Venture Capital were among early investors, supplying capital for US expansion and global scaling.

Governance and vesting

Early governance agreements emphasized technical excellence and long‑term stability; vesting schedules aligned founders with decade‑long growth goals.

Leadership transition

Alon N. Cohen served as CEO and Chairman until 2004; Udi Mokady later became CEO and led the company through major expansion and IPO preparations.

By the 2014 IPO JVP held roughly 46% of shares; founders and executives retained meaningful but minority stakes, reflecting a venture‑capital‑led scaling approach that shaped the company’s corporate structure and CyberArk ownership evolution.

Key facts and implications

Early ownership choices influenced later public ownership, investor composition, and board control.

• Founders: Udi Mokady and Alon N. Cohen; founding year: 1999.
• Lead early investor: Jerusalem Venture Partners (majority pre‑IPO influence).
• Other early investors: Goldman Sachs, Vertex Venture Capital.
• IPO: 2014, with JVP holding about 46% at that time.

For more on the company’s founding ethos and values see Mission, Vision & Core Values of CyberArk.

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Key events reshaping CyberArk ownership include the 2014 IPO that raised $86,000,000 at an approximate $470,000,000 valuation, the company’s shift to subscription recurring revenue, and the late-2024 acquisition of Venafi for about $1.54 billion (approx. $1.0 billion cash + $540 million stock), which issued shares to Thoma Bravo and altered equity stakes.

By Q1 2025 institutional investors owned approximately 91.5% of outstanding shares; insider ownership was roughly 1.2%, with Executive Chairman Udi Mokady holding the largest individual leadership stake.

Major shareholders and ownership dynamics

Institutional consolidation drives CyberArk ownership, with ETFs and index funds among the largest holders; the Venafi deal added private equity-shareholder nuance.

• The Vanguard Group — approx. 10.8% (Q1 2025 SEC filings)
• BlackRock Inc. — approx. 9.2% (Q1 2025 SEC filings)
• State Street Global Advisors and Neuberger Berman — significant institutional stakes; common in cybersecurity ETFs and mid-cap growth portfolios
• Thoma Bravo — acquired equity via Venafi transaction, representing private equity exposure in cap table

For detailed strategic context and ownership implications see Growth Strategy of CyberArk.

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The current CyberArk board is led by Executive Chairman Udi Mokady, with ten directors overall and a majority independent composition reflecting global finance and technology expertise; CEO Matt Cohen serves on the board to link executive management and shareholder interests.

CyberArk operates a one-share-one-vote structure, tying voting power to economic interest and avoiding dual-class share complications; institutional investors hold a large stake, with Vanguard and BlackRock among top holders influencing proxy outcomes.

Board and Voting Snapshot

The board has ten members, majority independent, with focused committees for audit, compensation, and nominating/governance; no single holder has veto or golden-share rights.

• One-share-one-vote governance aligns ownership and voting
• Institutional ownership concentration gives Vanguard and BlackRock significant influence
• High shareholder support in 2024 and 2025 AGMs for board nominees
• Post-Venafi acquisition integration cited positively by investors

Institutional investors owned approximately 65–70% of outstanding shares as of 2025 filings, with top asset managers regularly exercising voting power at proxy seasons; no private-equity parent or single controlling shareholder exists, and the corporate structure remains publicly traded and widely held—see Revenue Streams & Business Model of CyberArk for related context.

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Between 2023 and early 2025 CyberArk’s ownership profile shifted toward larger institutional stakes and strategic inorganic expansion, driven by a major acquisition and rising recurring revenue that attracted conservative, long-term capital.

Analyst commentary in early 2025 highlights tighter institutional control and frequent consolidation rumors, while founder succession planning to Matt Cohen has stabilized investor expectations amid a TAM forecast exceeding $60B by 2026.

Capital allocation and M&A

CyberArk prioritized inorganic growth, exemplified by the $1.54B Venafi purchase, using strong liquidity rather than extensive equity issuance.

Institutional ownership trends

ESG-focused and long-term institutional investors increased holdings as governance transparency and recurring revenues improved CyberArk ownership appeal.

Succession and governance

Founder Udi Mokady remains influential, but planned succession to Matt Cohen reduced ownership uncertainty and reassured shareholders about continuity.

Market positioning

Market leadership and valuation keep CyberArk a likely independent leader despite consolidation rumors; see broader context in Competitors Landscape of CyberArk.

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