- Companies
- Veza
Veza Acquisition, Valuation, Funding & Investors
Veza was acquired by ServiceNow for $1B in December 2025.
Cumulative funding Veza raised
$233M
across 3 funding rounds
Key investors in Veza
Accel
New Enterprise Associates
GV
Norwest
True Ventures
Blackstone
JPMorgan Chase
Capital One Ventures
About Veza
Veza is a data security platform that maps and governs access across multicloud environments. It scans authorization paths in AWS, Azure, Snowflake, and Salesforce to detect excessive permissions and policy drifts. Headquartered in San Francisco, the company serves Fortune 500 firms including Broadcom and Workday. Founded in 2020, Veza's Access Graph engine processes billions of permissions daily, enabling least-privilege enforcement through integrations with Okta and Ping Identity.
Founded
2020
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Valuation
$808M (Apr 2025)
Veza Acquisition
Veza was acquired by ServiceNow for $1B on 2 December 2025.
Before the acquisition Veza had raised $233M across 3 funding rounds.
Veza, founded in 2020, provides an AI-native identity security platform that maps access permissions, authorization data, and activity into a unified Access Graph to enforce least privilege across cloud providers, SaaS applications, data platforms, and AI agents. The company serves nearly 150-200 global enterprise customers in banking, hospitality, FMCG, and technology sectors including Blackstone, Crowdstrike, Expedia, Snowflake, and SoFi, with 230 employees. ServiceNow, an AI control tower for business reinvention with over $10B in annual revenue powering IT, security, HR, and customer service workflows, announced a definitive agreement on December 2, 2025, to acquire Veza in a deal reportedly valued at around $1 billion. The acquisition extends ServiceNow's Security and Risk portfolios into identity security, combining Veza's entitlement graph and identity governance with ServiceNow's agentic workflows and Machine Identity Console for centralized visibility, monitoring, and enforcement of access controls across applications, data, cloud environments, and nonhuman identities. Strategic rationale focuses on addressing identity as the new control plane amid rising breaches, enabling safer access decisions, ongoing reviews, seamless deprovisioning, and defense against AI-powered attacks in agentic AI environments. ServiceNow, a prior go-to-market partner and investor via ServiceNow Ventures, positions Veza's capabilities to accelerate end-to-end identity security as a critical layer for enterprise trust and productivity. The transaction, subject to customary regulatory approvals and closing conditions, integrates Veza's identity visibility, intelligence, and governance into ServiceNow's security portfolio, signaling consolidation of identity, ITSM, and security operations while filling gaps for enterprise AI governance from pilots to production.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 2 Dec 2025 | Strategic M&A | $1B |
Veza Valuation
Veza is currently valued at $808M, based on its Series D in April 2025.
The $108M round was led by New Enterprise Associates, with participation from Atlassian Ventures, GV, Blackstone, Snowflake Ventures, Norwest and 5 other investors.
Veza's valuation has grown 1.9x from $415M at its Series C in August 2023 to $808M in April 2025, across 2 priced rounds.
Veza valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2025 | Series D | $808M |
| Aug 2023 | Series C | $415M |
Veza Funding History
Veza has raised a total of $233M across 3 funding rounds.
Veza's first fundraising round was a $110M Series C in April 2022. The most recent completed round was a $108M Series D in April 2025.
Veza funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2025 | Series D | New Enterprise Associates (lead); Atlassian Ventures; GV; Blackstone; Snowflake Ventures; Norwest; True Ventures; Workday Ventures; JPMorgan Chase; Ballistic Ventures; Accel | $108M | $808M | Veza is an identity security company providing a unified platform that consolidates permissions, authorization data, and user activity to help enterprises make informed access decisions, addressing challenges in cloud infrastructure, data systems, and SaaS applications. The platform detects risky access, unused accounts, and enables features like Access AI, Access Requests, Role Recommendations, and Access Hub for streamlined identity governance. On April 28, 2025, Veza raised $108 million in an oversubscribed Series D round led by New Enterprise Associates, with participation from Atlassian Ventures, Workday Ventures, Snowflake Ventures, and existing investors including Accel, GV, True Ventures, Norwest, Ballistic Ventures, J.P. Morgan, and Blackstone Innovations Investments, bringing total funding to $235 million at an $808 million post-money valuation. The funds will accelerate global go-to-market initiatives, product development for AI agent access management, and hiring, with plans for 30-40 new employees per quarter through 2025. Veza demonstrated strong 2024 growth by more than doubling annual recurring revenue (ARR), achieving nearly 150% net revenue retention, adding 10 Fortune 500 and 16 Fortune 1000 customers in finance, pharmaceuticals, and retail, and securing a 100% Willingness to Recommend score in Gartner Peer Insights for Identity Governance and Administration based on 21 reviews as of October 2024. The company now employs over 190 people worldwide and manages more than 20 billion access permissions for customers including Blackstone, Workday, Sallie Mae, and Snowflake. Veza's traction reflects robust product-market fit in the growing identity security market, with rapid adoption among Global 2000 organizations amid rising needs for advanced cybersecurity in decentralized environments. Subsequent developments include ServiceNow's announced acquisition of Veza, though terms were undisclosed and pegged around $1 billion in reports, following the Series D. |
| Aug 2023 | Series C | Capital One Ventures (lead); ServiceNow Ventures (lead) | $15M | $415M | Veza is an identity security company that provides a platform to secure identity access across applications, data systems, and cloud infrastructure. The company announced strategic investments from Capital One Ventures and ServiceNow Ventures on August 10, 2023, raising $15 million and valuing Veza at $415 million post-money. This brought Veza's total financing to $125 million, with proceeds allocated to product development, enterprise system integrations, sales expansion, and go-to-market execution. Veza demonstrated strong momentum around the investment, including quintupled revenue and doubled headcount in the last fiscal year, surpassing 100 integrations across SaaS apps, cloud infrastructures, and systems. Customers included Wynn Resorts, Blackstone, Expedia, SoFi, Warby Parker, Wayfair, Zoom, and Intuit, with the client portfolio more than tripling since emerging from stealth. The company planned to employ 150 people by year-end and held three years of runway. Veza's platform addressed challenges in modern identity management for multi-cloud and hybrid environments, competing with SailPoint, CyberArk, Saviynt, Okta, and Obsidian. Strategic investors Capital One Ventures and ServiceNow Ventures brought expertise in cloud-scale data security and platform strategy to support Veza's vision for a modern identity platform beyond legacy IAM, IGA, and PAM tools. |
| Apr 2022 | Series C | Accel (lead) | $110M | - | Veza, founded in 2020, emerged from stealth on April 27, 2022, announcing over $110 million in total funding across seed and Series A rounds from investors including Accel, Bain Capital, Ballistic Ventures, GV, Norwest Venture Partners, and True Ventures, with Accel leading the latest portion. The company provides a data security platform focused on authorization, featuring a high-performance streaming engine for agentless integration with cloud and on-premises systems, a canonical object model for identities and data relationships, and a translation layer for permissions into natural language via a single control pane. This enables organizations to manage complex access in hybrid multi-cloud environments, serving Fortune 500 customers in finance, healthcare, hospitality, media, and tech like ASAPP, Choice Hotels, and Nozomi Networks. The funding supported Veza's expansion amid rapid enterprise adoption, as noted by Accel partner Eric Wolford, who highlighted its ease in handling multi-cloud authorization complexity. Investors praised Veza for filling gaps in data security across on-premises and cloud setups. A separate $50M Series C was also led by Accel, though details overlap with the stealth emergence announcement, positioning Veza (formerly Cookie.ai) to grow operations and reach. Later developments include a Series D in April 2025 raising $108M at $808M valuation led by NEA, with Accel participation, bringing total equity to $235M and noting more than doubled year-over-year ARR. Veza continued high growth across financial and customer metrics, using funds for global go-to-market and product development in identity security amid SaaS, cloud, and AI shifts. Total funding reached $229.5M over 9 rounds before acquisition in December 2025. |
Who has invested in Veza?
13 investors have backed Veza across its funding rounds, including Accel, New Enterprise Associates, GV, Norwest, True Ventures and Blackstone.
Lead investors include New Enterprise Associates, Capital One Ventures, ServiceNow Ventures and Accel.
Veza Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Apr 2022 | ||
| 1 | Participant | Apr 2025 | ||
| 1 | Lead | Aug 2023 | ||
| 1 | Participant | Apr 2025 | ||
| 1 | Lead | Apr 2025 | ||
| 1 | Participant | Apr 2025 | ||
| 1 | Participant | Apr 2025 | ||
| 1 | Participant | Apr 2025 | ||
| 1 | Lead | Aug 2023 | ||
| 1 | Participant | Apr 2025 | ||
| 1 | Participant | Apr 2025 | ||
This data is available for Pro users. Sign up to see all 13 Veza investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialVeza Competitors
Veza competitors include listed companies like NSFOCUS and Rapid7, and private ones like Aikido Security, Aqua Security, BigID and BlueVoyant.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $13M | - | $1B | 76.9x | ||
| Private | - | - | $1B | - | ||
| Private | $100M | - | $1B | 10.0x | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $379M | $37M | $955M | 2.4x | ||
| Publicly listed | $860M | $63M | $836M | 1.3x |
Veza Public Comps
Veza is no longer listed, but its public comps include NSFOCUS, BeiJing Certificate, Yubico, Rapid7, Riskified, Asiainfo Security, Mitek Systems, Eastcompeace Tech, Red Violet and CANCOM.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $379M | $37M | 2.6x | 2.4x | 26.1x | 25.6x | |||
| $125M | ($12M) | 6.7x | - | (70.9x) | - | |||
| $226M | $19M | 3.3x | 3.2x | 39.7x | 25.6x | |||
| $860M | $63M | 1.3x | 1.3x | 17.4x | 6.8x | |||
| $345M | ($31M) | 1.8x | 1.6x | (20.3x) | 19.0x | |||
| $1.2B | ($11M) | 1.2x | 1.1x | (126.2x) | 339.7x | |||
| $180M | $37M | 4.1x | 3.7x | 19.9x | 11.2x | |||
| $197M | $26M | 4.8x | - | 36.4x | - | |||
This data is available for Pro users. Sign up to see all Veza competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Veza
| When was Veza founded? | Veza was founded in 2020. |
| Where is Veza headquartered? | Veza is headquartered in San Francisco, CA, United States. |
| Is Veza publicly listed? | No, Veza was acquired by ServiceNow in December 2025. |
| Who acquired Veza? | Veza was acquired by ServiceNow in December 2025. |
| How much was Veza acquired for? | Veza was acquired for $1B in December 2025. |
| What is Veza's valuation? | Veza was last valued at $808M in its Series D in April 2025. |
| How much funding has Veza raised? | Veza has raised $233M across 3 funding rounds. |
| What was Veza's last funding round? | Veza's last funding round was a $108M Series D in April 2025, led by New Enterprise Associates. |
| Who are Veza's investors? | Veza's investors include Accel, Atlassian Ventures, ServiceNow Ventures, GV, New Enterprise Associates, Blackstone, Snowflake Ventures, Norwest, Capital One Ventures, True Ventures and 3 others. |
| Which companies are comparable to Veza? | Companies comparable to Veza include Aikido Security, Aqua Security, BigID, BlueVoyant, NSFOCUS and Rapid7. |
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