Silverfort Raises $116 Million in Late-Stage Funding Round

In a late-stage fundraising, cyber security startup Silverfort raises $116 million. The funding round was led by Brighton Park Capital, with participation from General Motors Ventures and Citi Ventures. Cyber security equities saw significant gains last year, reflecting a promising industry outlook. Silverfort plans to use the funding to expand into new markets and enhance its product line.

Among Silverfort's clients are Agoda, United Parcel Service, and Samsonite. The company has also formed a strategic alliance with Microsoft. However, Silverfort is not currently considering a public offering despite its strong financial position and continued growth.

With the series D funding round, Silverfort has now raised a total of $222 million. The company plans to heavily invest in its existing products and expand into new areas to provide a comprehensive, end-to-end identity protection platform for its customers.