- Companies
- Pathlock
Pathlock Funding, Investors & Competitors
Pathlock has raised $220M across 2 funding rounds, most recently a $200M undisclosed-stage round in May 2022.
Last Pathlock funding round
$200M
Undisclosed stage · May 2022
Cumulative funding Pathlock raised
$220M
across 2 funding rounds
Key investors in Pathlock
Vertica Capital Partners
About Pathlock
Pathlock is a cybersecurity platform offering application access governance, continuous controls monitoring, and cybersecurity controls for enterprise software. Led by certified auditors, it secures SAP, Oracle, and Workday environments against insider threats and compliance violations. Pathlock serves Fortune 500 clients with automated risk detection and remediation workflows.
Founded
2004
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Pathlock Funding History
Pathlock has raised a total of $220M across 2 funding rounds.
Pathlock's first fundraising round was a $20M undisclosed-stage round in March 2021. The most recent completed round was a $200M undisclosed-stage round in May 2022.
Pathlock funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| May 2022 | Undisclosed stage | Vertica Capital Partners (lead) | $200M | Pathlock, a provider of application governance and data security solutions, secured $200 million in funding led by Vertica Capital Partners on May 17, 2022, coinciding with mergers and acquisitions of Appsian, Security Weaver, CSI Tools, and Sast Solutions. The funding aimed to expand Pathlock's capabilities in governance, risk, and compliance (GRC) controls across enterprise applications including ERPs, HR, and CRM tools, creating a unified platform for real-time risk mitigation and policy enforcement. The combined entity positioned itself as a leader in Zero Trust access orchestration, supporting over 140 business applications with thousands of pre-built controls. Post-merger, Pathlock reported servicing over 1,200 customers across major industries, with a global presence including offices in the United States, Belgium, the United Kingdom, Germany, Israel, and India. The company emphasized its channel partner program, offering training, deal registration, and integration with partners' services to deliver business outcomes. Vertica Capital Partners highlighted Pathlock's depth and breadth in application support, unmatched by competitors, enabling automated controls to address digital transformation challenges in cloud and on-premise environments. Pathlock's platform focuses on real-time prevention, continuous monitoring, and comprehensive coverage beyond SAP to other leading business applications, as noted by analyst Martin Kuppinger of KuppingerCole. The investment supported product advancements and market expansion following an earlier $20 million strategic growth investment from Vertica in March 2021, when Pathlock rebranded from Greenlight Technologies. |
| Mar 2021 | Undisclosed stage | Vertica Capital Partners (lead) | $20M | Pathlock, formerly Greenlight Technologies, is a Flemington, NJ-based provider of unified access orchestration and application data security, offering real-time data protection, insider threat prevention, and Zero Trust capabilities across over 140 on-premise and cloud applications including SAP, Oracle, Salesforce, NetSuite, and Workday. On March 10, 2021, the company announced a $20 million strategic growth investment led by Vertica Capital Partners, a New York-based growth-focused software investor, coinciding with its rebranding from Greenlight Technologies. The funding aims to accelerate product development for Pathlock's automated application governance solution, enhance insider threat prevention, and support recruitment of security and infrastructure software veterans to its leadership team and board. Vertica Capital Partners highlighted Pathlock's unparalleled breadth of capabilities in identity and access management, drawing parallels to companies like Thycotic and BeyondTrust that they helped build. The platform features real-time policy enforcement, conditional access, user provisioning, ongoing access reviews, internal control testing, transaction monitoring, and audit preparation, positioning Pathlock as a hub for all lines of defense in enterprise security. This investment underscores the growing emphasis on securing critical applications amid the rise of Zero Trust architectures. In August 2021, Pathlock was named to the Inc. 5000 list for 80% revenue growth from 2017 to 2020, reflecting strong traction with Fortune 100 enterprises and momentum in the access control market following the funding and release of version 5.0 of its flagship solution. The company continues to expand its global presence and refine its offerings in application security and governance. |
Who has invested in Pathlock?
1 investor has backed Pathlock across its funding rounds, including Vertica Capital Partners.
Lead investors include Vertica Capital Partners.
Pathlock Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Pathlock investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Pathlock
Pathlock has acquired 5 companies to date.
Last acquisition by Pathlock was on September 27th 2022. Pathlock acquired Grey Monarch for undisclosed valuation.
Latest Acquisitions by Pathlock
| Description | Grey Monarch is a London-based software firm automating SAP user lifecycle management, license optimization, and security monitoring. Founded in 2016, it scans ERP systems for compliance risks, reducing overprovisioning by 30% for clients like Unilever and Barclays. The platform integrates with SAP SuccessFactors and S/4HANA, handling 1 million+ identities across global enterprises. | SecurityWeaver is a San Francisco-headquartered vendor of governance, risk, and compliance software for SAP environments, enabling continuous controls monitoring and fraud detection. Founded in 2007, it serves Global 2000 enterprises in manufacturing and energy with automated workflows for SOX and ITGC audits. | CSI tools is a provider of analytics software for SAP access governance and security. Based in Europe, the suite includes a cockpit and engine for vulnerability analysis, automated role building, and reverse engineering in SAP environments. CSI tools syncs access controls with SAP systems to mitigate risks in compliance-heavy organizations. | SAST SOLUTIONS is a Vienna-headquartered provider of SAP security and authorization solutions for ERP and S/4HANA systems. Its VirtuOS suite delivers real-time protection against privilege abuse, segregation-of-duties violations, and cyber threats through automated monitoring and remediation. The company offers implementation consulting, managed services, and custom development from offices in Europe and North America, serving clients in manufacturing, finance, and public sectors. | |
| HQ Country | |||||
| HQ City | Swindon | San Diego, CA | Herent | Hamburg | |
| Deal Date | 27 Sep 2022 | 17 May 2022 | 17 May 2022 | 17 May 2022 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Pathlock acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Pathlock Competitors
Pathlock competitors include listed companies like Mitek Systems and Palo Alto Networks, and private ones like OneTrust, Vanta, Phin Security and Tines.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $400M | - | $4.5B | 11.3x | ||
| Private | $220M | - | $4.2B | 18.9x | ||
| Private | - | - | $1.5B | - | ||
| Private | - | - | $1.1B | - | ||
| Publicly listed | $180M | $37M | $781M | 3.7x | ||
| Publicly listed | $11B | $1B | $307B | 25.9x |
Pathlock Public Comps
Pathlock is still privately-owned, but its public comps include Palo Alto Networks, CrowdStrike, IBM, Fortinet, Cloudflare, Okta, Zscaler, F5, Rubrik and Gen Digital.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $11B | $1B | 26.7x | 25.9x | 301.1x | 76.9x | |||
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $68B | $17B | 4.2x | 4.0x | 16.9x | 14.6x | |||
| $6.8B | $2.3B | 18.1x | 15.9x | 53.7x | 41.9x | |||
| $2.2B | ($25M) | 54.6x | 44.3x | (4653.4x) | 185.1x | |||
| $2.9B | $245M | 10.6x | 10.0x | 126.4x | 36.4x | |||
| $3.4B | $42M | 9.1x | 8.9x | 721.8x | 32.5x | |||
| $3.1B | $901M | 7.5x | 6.9x | 25.8x | 18.3x | |||
This data is available for Pro users. Sign up to see all Pathlock competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Pathlock
| When was Pathlock founded? | Pathlock was founded in 2004. |
| Where is Pathlock headquartered? | Pathlock is headquartered in Denver, CO, United States. |
| Is Pathlock publicly listed? | No, Pathlock is a private, VC-backed company. |
| How much funding has Pathlock raised? | Pathlock has raised $220M across 2 funding rounds. |
| What was Pathlock's last funding round? | Pathlock's last funding round was a $200M undisclosed-stage round in May 2022, led by Vertica Capital Partners. |
| Who are Pathlock's investors? | Pathlock's investors include Vertica Capital Partners. |
| Which companies are comparable to Pathlock? | Companies comparable to Pathlock include OneTrust, Vanta, Phin Security, Tines, Mitek Systems and Palo Alto Networks. |
| How many companies has Pathlock acquired? | Pathlock has acquired 5 companies, including Grey Monarch, SecurityWeaver, CSI tools, SAST SOLUTIONS and Appsian. |
See companies similar to Pathlock
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




