History of Cyberark
CyberArk was founded in 1999 in Israel by Udi Mokady and Alon N. Cohen, who recognized a critical gap
in cybersecurity infrastructure. Mokady identified that information technology specialists had
unlimited access to all organizational data as system administrators, but nobody was monitoring
these privileged accounts. The founding team assembled security engineers who implemented the
digital vault technology (United States Patent 6,356,941), creating the foundation for what would
become the privileged access management industry.
The company's growth trajectory accelerated
significantly in the 2010s, culminating in a major milestone when CyberArk filed for an initial
public offering (IPO) in June 2014 with the Securities and Exchange Commission, listing 2013
revenues of $66.2 million. The company went public in 2014 and was regarded as one of the most
successful tech IPOs of that year, trading on NASDAQ under the symbol CYBR. This public offering
marked CyberArk's transition from a specialized Israeli startup to a global cybersecurity leader.
Over the past decade, CyberArk has demonstrated remarkable expansion and financial performance.
The company grew its revenue from $103 million in 2014 to over $750 million in 2023, while expanding
its customer base from 1,550 to over 8,800 globally. Recent achievements include crossing the $1
billion revenue mark in 2024, with a 33% increase from the previous year. The company has also
pursued strategic acquisitions to enhance its capabilities, including recent deals such as the
acquisition of Zilla Security for $175 million in 2025, demonstrating its continued commitment to
innovation and market leadership in identity security solutions.