- Companies
- Imperva
Imperva Acquisition, Valuation, Funding & Investors
Imperva was acquired by Thales for $3.6B in July 2023, a 7.2x multiple on $500M of revenue.
Imperva revenue at acquisition
$500M
Last twelve months · Jul 2023
Imperva revenue multiple at acquisition
7.2x
EV/Revenue · Jul 2023
Cumulative funding Imperva raised
$37M
across 3 funding rounds
About Imperva
Imperva is a cybersecurity firm delivering web application firewalls, DDoS mitigation, data risk analysis, and runtime application self-protection for hybrid cloud and on-premises environments. Headquartered in Redwood City, California, the company safeguards databases, APIs, and files against breaches for enterprises worldwide. Imperva holds a dominant position in the data security market following its acquisition by Thales Group in 2023, extending protection to over 10,000 customers across sectors like finance and healthcare. Founded in 2002, it maintains global operations with offices in Europe, Asia-Pacific, and the Middle East.
Founded
2002
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$500M (Jul 2023)
Valuation
$3.6B (acquired Jul 2023)
Imperva Acquisition
Imperva was acquired by Thales for $3.6B on 25 July 2023.
The acquisition price implies a 7.2x revenue multiple on $500M of revenue.
Before the acquisition Imperva had raised $37M across 3 funding rounds.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 25 Jul 2023 | Strategic M&A | $3.6B | 7.2x |
Imperva Funding History
Imperva has raised a total of $37M across 3 funding rounds.
Imperva's first fundraising round was a $2M seed round in December 2013. The most recent completed round was a $22M undisclosed-stage round in June 2019.
Imperva funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2019 | Undisclosed stage | - | $22M | Imperva is a cybersecurity company specializing in application and data security, headquartered in Redwood Shores, CA (later noted as San Mateo), founded in 2002, with over 1200 employees. It provides solutions like web application firewalls, AI-powered risk analysis, real-time monitoring, intrusion detection for databases, and cloud-based services such as Incapsula for security and content delivery. Customers include about 35% of Fortune 100 companies across industries like financial services, telecom, energy, healthcare, retail, and e-commerce, with over 6700 customers globally, monitoring threats in 180 countries. An undated Series E round raised $110M led by Greylock Partners with Lightspeed, reportedly reaching $1.15B valuation. Funds were intended for product development, team expansion, and global scaling. Imperva went public earlier, then was taken private by Thoma Bravo in October 2018 at $2.1B valuation. Under Thoma Bravo (2019-2023), Imperva pursued growth via acquisitions including Distil Networks (bot management, 2019), JSonar (database security, 2020), and CloudVector (API security, 2021). In 2023, Thales acquired Imperva for $3.6B from Thoma Bravo, enhancing Thales' cybersecurity portfolio with Imperva's on-premises and cloud capabilities. |
| Dec 2017 | Series B | Forgepoint Capital (lead); U.S. Venture Partners | $13M | Imperva is a cybersecurity company providing application security and data protection solutions for on-premise and cloud systems. In full year 2017, the company reported total revenue of $364.1 million, with subscription revenue growing 30% during the year. For Q4 2017, Imperva posted revenue of $91.1 million and GAAP operating income of $2.8 million. The company maintained a strong balance sheet with $359.5 million in cash and investments and no debt as of December 31, 2017. In February 2017, Imperva sold its Skyfence cloud security business to Forcepoint, generating a $35.9 million gain that was included in 2017 results. |
| Dec 2013 | Seed | Karlin Ventures (lead) | $2M | - |
Who has invested in Imperva?
3 investors have backed Imperva across its funding rounds, including U.S. Venture Partners, Forgepoint Capital and Karlin Ventures.
Lead investors include Forgepoint Capital and Karlin Ventures.
Imperva Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Dec 2017 | ||
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Start Free TrialAcquisitions by Imperva
Imperva has acquired 8 companies to date.
Last acquisition by Imperva was on April 3rd 2021. Imperva acquired CloudVector for undisclosed valuation.
Latest Acquisitions by Imperva
| Description | CloudVector is an API security platform monitoring internal and third-party endpoints for data exposure and threats. The solution provides visibility into payloads across REST, GraphQL, and SOAP protocols, blocking anomalies in transit. Serving enterprises in finance and healthcare from its San Francisco headquarters, CloudVector integrates with Kubernetes and cloud gateways. | JSonar is a cybersecurity company offering database activity monitoring and compliance solutions. Founded in 2013 and headquartered in Waltham, Massachusetts, the firm deploys its SonarC2 platform for on-premise and cloud environments, providing Data-Centric Audit and Protection alongside security data lakes. JSonar serves enterprises in finance and healthcare with rapid deployment times. | Distil Networks is a cybersecurity firm specializing in bot management and API protection, acquired by Imperva in 2017. Its platform blocks over 99% of automated attacks including web scraping, DDoS, credential stuffing, and ad fraud across websites and APIs. Distil serves e-commerce, media, and financial sectors with machine learning detection and analyst services. | Prevoty delivers runtime application self-protection software that integrates directly into DevOps workflows to secure web applications against attacks. Headquartered in Redwood City, California, the company developed AI-driven defenses blocking over 99 percent of OWASP Top 10 threats in real-time without performance impacts. Imperva acquired Prevoty in 2018, incorporating its technology into a broader cybersecurity platform serving financial services, healthcare, and retail sectors worldwide. Prevoty's solutions protect applications across cloud environments like AWS and Azure, enabling continuous security testing in CI/CD pipelines. | |
| HQ Country | |||||
| HQ City | San Francisco, CA | Boston, MA | Washington, DC | Los Angeles, CA | |
| Deal Date | 3 Apr 2021 | 1 Oct 2020 | 4 Jun 2019 | 26 Jul 2018 | |
| Valuation | undisclosed | undisclosed | undisclosed | $140M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Investments by Imperva
Imperva has invested in 1 company to date.
Latest investment by Imperva was on March 17th 2020. Imperva invested in Axis Security in their $14M Series A round.
Latest Investments by Imperva
| Description | Axis Security is a San Francisco-headquartered cybersecurity firm delivering Zero Trust Network Access platforms. Its cloud-native solution enforces policy-based access to private apps using device posture, user behavior, and identity signals. Axis Security protects enterprises in finance, healthcare, and tech from remote work threats, integrating with Okta and Zscaler. |
| HQ Country | |
| HQ City | San Francisco, CA |
| Deal Date | 17 Mar 2020 |
| Round | Series A |
| Raised | $14M |
| Investors | Michael Fey; Check Point Software; Ten Eleven Ventures; Cyberstarts; Dan Amiga; Palo Alto Networks; Emerald Development Managers; Cerca Partners |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Imperva investments and their VC round multiples. Start Free Trial | |
Imperva Competitors
Imperva competitors include listed companies like Tenable and Clear Secure, and private ones like Chainguard, Upwind Security, ReliaQuest and Vanta.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $40M | - | $3.5B | 87.5x | ||
| Private | - | - | $3.8B | - | ||
| Private | $300M | - | $3.4B | 11.3x | ||
| Publicly listed | $999M | $31M | $4B | 3.9x | ||
| Publicly listed | $901M | $216M | $4.1B | 3.2x | ||
| Private | $220M | - | $4.2B | 18.9x |
Imperva Public Comps
Imperva is no longer listed, but its public comps include Tenable, Clear Secure, Cellebrite, AvePoint, NetScout Systems, QiAnXin, BlackBerry, Venustech Group, A10 Networks and CETC Cyberspace Security.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $999M | $31M | 4.1x | 3.9x | 129.9x | 15.3x | |||
| $901M | $216M | 3.7x | 3.2x | 15.3x | 9.5x | |||
| $476M | $79M | 5.4x | 4.8x | 32.3x | 17.3x | |||
| $419M | $42M | 5.9x | 5.1x | 58.4x | 27.4x | |||
| $859M | $163M | 2.6x | 2.6x | 13.9x | 9.5x | |||
| $655M | ($147M) | 4.6x | 4.5x | (20.4x) | (41.4x) | |||
| $549M | $83M | 8.3x | 7.8x | 54.9x | 36.6x | |||
| $349M | ($60M) | 6.6x | 6.0x | (38.4x) | (176057.4x) | |||
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Common questions about Imperva
| When was Imperva founded? | Imperva was founded in 2002. |
| Where is Imperva headquartered? | Imperva is headquartered in Tel Aviv, Israel. |
| Is Imperva publicly listed? | No, Imperva was acquired by Thales in July 2023. |
| Who acquired Imperva? | Imperva was acquired by Thales in July 2023. |
| How much was Imperva acquired for? | Imperva was acquired for $3.6B in July 2023, a 7.2x revenue multiple. |
| How much funding has Imperva raised? | Imperva has raised $37M across 3 funding rounds. |
| What was Imperva's last funding round? | Imperva's last funding round was a $22M undisclosed-stage round in June 2019. |
| Who are Imperva's investors? | Imperva's investors include Forgepoint Capital, U.S. Venture Partners and Karlin Ventures. |
| Which companies are comparable to Imperva? | Companies comparable to Imperva include Chainguard, Upwind Security, ReliaQuest, Tenable, Clear Secure and Vanta. |
| How many companies has Imperva acquired? | Imperva has acquired 8 companies, including CloudVector, JSonar, Distil Networks, prevoty and Camouflage Software. |
| What was the largest acquisition by Imperva? | The $140M acquisition of prevoty in July 2018 is the largest acquisition Imperva has made to date. |
| How many companies has Imperva invested in? | Imperva has invested in 1 company, including Axis Security. |
| What was Imperva's last investment? | In March 2020, Imperva invested in Axis Security's $14M Series A alongside Michael Fey, Check Point Software, Ten Eleven Ventures and 5 other investors. |
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