The Syndicate Group (TSG) Announces Strategic Investment in Veza to Accelerate Channel-Led Growth for the Identity Security Company
Leveraging TSG's ecosystem of channel partner companies to expand Veza's footprint with channel community
PALO ALTO, Calif., Sept. 12, 2023 /PRNewswire/ -- Veza, the identity security company, and The Syndicate Group (TSG), a leading venture firm focused on revenue growth and new customer acquisition, today announced a strategic investment. The new capital will be used to accelerate the execution and growth of Veza's channel partnership program as the company leverages TSG's growing network of leading channel partners and investors.
Business initiatives, such as digital transformation and cloud migration, have increased the volume and fragmentation of identities in organizations today. The result is a significant rise in identity-related breaches and an urgent need for next-generation identity security solutions. Veza exists to give CISOs and CIOs the tools they need to secure the access of identities before a breach occurs. Global Fortune 500 brands like Blackstone and Expedia rely on Veza to manage identity risk and understand who has access to data at the most granular level.
"Channel partners were quick to see that traditional identity tools could no longer keep pace with the speed of enterprise access processes," said Tarun Thakur, Co-Founder and CEO of Veza. "Security-focused partners have been instrumental in helping Veza reach new market segments. As identity security becomes a strategic imperative, we're excited to double-down and collaborate with these partners."
Veza's identity security platform gives security professionals a complete understanding of who can take what action on with data, across all enterprise resources including identity systems, data systems, cloud infrastructure services, SaaS apps, and custom-built apps. The Veza Authorization Graph helps organizations address key use cases of access visibility, access intelligence and monitoring, access reviews, entitlement certifications, access provisioning, and access requests.
With a demonstrated history of investing in disruptive, category-creating companies and helping them accelerate revenue growth, the partnership with TSG will provide both strategic and tactical go-to-market counsel to expand Veza's market presence in the channel community.
"We are excited to partner with Veza to bring the company's identity security solutions to our extensive ecosystem of channel partners to accelerate growth," said Chad Cardenas, CEO of TSG. "Veza is particularly well-suited to capitalize on the channel ecosystem due to significant and growing market challenges relate to identity security and data security. The company is leading a major transformation in the identity market, from authentication to authorization, and its solutions will directly benefit channel businesses and help CXOs everywhere create a secure environment. We are thrilled to bring Veza into our ecosystem and help the company scale."
"Many organizations today must adhere to disclosure requirements about their cybersecurity and risk management practices," said Adam Couch, Managing Partner of Socium Security. "Veza provides a revolutionary capability that helps CISOs, CXOs, and CTOs modernize access governance for the new data and SaaS application landscape, and we're excited to work with TSG and the company to bring this exciting new technology to market."
TSG's ecosystem of strategic investors includes more than 450 leading channel partner companies and over 7,500 members. TSG's program is designed to accelerate Veza's go-to-market efforts and capture both mindshare and focus all the way through exit. In addition to the strategic value provided for portfolio companies, TSG channel partner companies and members benefit by staying ahead of emerging tech trends, gaining early access to great resale relationships and sharing in the value-growth upside of the greatest enterprise tech companies through private, pre-IPO investments.
About The Syndicate Group
The Syndicate Group (TSG) helps startups scale faster with revenue growth and new customer acquisition by organizing exclusive investment access for their strategic go-to-market ecosystem. TSG programmatically aggregates dozens of strategics (VARs, Integrators, Consultancies, CXOs) who arrive on the cap table as a single investor entity, creating a virtual army of individual contributors in the field who then have skin in the game and are uniquely positioned to deliver results.
Veza is the identity security company. Identity and security teams use Veza to secure identity access across SaaS apps, on-prem apps, data systems, and cloud infrastructure. Veza solves the blind spots of traditional identity tools with its unique ability to ingest and organize permissions metadata in the Veza Authorization Graph. Global enterprises like Blackstone, Wynn Resorts, and Expedia trust Veza to visualize access permissions, monitor permissions activity, automate access reviews, and remediate privilege violations. Founded in 2020, Veza is headquartered in Los Gatos, California, and is funded by Accel, Bain Capital, Ballistic Ventures, GV, Norwest Venture Partners, and True Ventures. Visit us at veza.com and follow us on LinkedIn, Twitter, and YouTube.
Mike Gallo for TSG
Gillian Roberts for Veza
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SOURCE The Syndicate Group
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