CyberArk Software: The $25 Billion Israeli Identity-Security Category

Nasdaq: CYBR · Cybersecurity · Listed 2014 · Headquartered in Petah Tikva · Acquired by Palo Alto Networks, February 11, 2026

CyberArk Software (Nasdaq: CYBR) is the Petah Tikva-headquartered cybersecurity company that built and defined the privileged access management category — the global reference standard for securing the credentials that grant administrative control over enterprise infrastructure. Founded in 1999 by Udi Mokady and Alon Cohen, it is the second pillar of Israeli cybersecurity at scale, and — as of February 11, 2026 — the target of the largest cybersecurity acquisition in history: Palo Alto Networks' $25 billion transaction.

Company snapshot

Ticker: Formerly Nasdaq: CYBR
Founded: 1999, Petah Tikva
IPO: September 24, 2014 at $16/share, valuing the company at ~$420M
Headquarters: Petah Tikva, Israel
Acquisition: Palo Alto Networks, closed February 11, 2026 at ~$25B — largest cybersecurity acquisition in history
Revenue at close: ~$1.0B (FY 2024)
Employees: ~3,500
CEO: Matt Cohen (since 2023)
Founders: Udi Mokady, Alon Cohen

Founding and background

CyberArk was founded in 1999 in Petah Tikva by Udi Mokady and Alon Cohen, both Israeli engineers with backgrounds in enterprise security. The founding insight was that the most dangerous credentials inside any enterprise — domain administrator accounts, root passwords, service accounts, and the application credentials embedded in code — were systemically unmanaged and unmonitored. The Privileged Access Security platform CyberArk built to vault, rotate, and audit those credentials defined the category. Mokady served as CEO from founding through 2023, when Matt Cohen, the company's chief operating officer, succeeded him.

What they do today

CyberArk operates a unified identity security platform spanning privileged access management (the legacy core), workforce identity, customer identity, and the machine and AI agent identity layer that has become structurally important as AI agents proliferate inside enterprise environments. The platform is sold as a SaaS subscription, with cloud delivery the dominant revenue mix. FY 2024 revenue approximately $1 billion, with subscription ARR growing at meaningfully higher rates. ~3,500 employees, with engineering majority in Petah Tikva and Tel Aviv.

Israeli nexus

Headquarters in Petah Tikva. R&D and engineering center of gravity is Israeli. Mokady and Cohen are both Israeli. One of the largest cybersecurity employers in Israel and — after Check Point — the second pillar of the Israeli cyber industry as an institutional category. As part of the Palo Alto Networks acquisition, the engineering base and Israeli headquarters are retained; a planned secondary listing on the Tel Aviv Stock Exchange under CYBR was announced to preserve the Israeli public-market presence.

The identity layer of Israeli cybersecurity

CyberArk's significance in the Israeli economy is the demonstration that an Israeli company could build a category, defend it for two decades, and exit at one of the largest valuations in cybersecurity history without the founding team relinquishing the engineering and product center of gravity in Israel. The Palo Alto Networks acquisition — announced July 2025, closed February 11, 2026 — valued CyberArk at approximately $25 billion: the largest Israeli cybersecurity exit ever, and the second-largest Israeli technology exit in history after Google's $32B acquisition of Wiz. Together, the Wiz and CyberArk transactions of the past fourteen months — totaling approximately $57 billion — formalized the Israeli cyber industry as the structural supplier of the next generation of global cybersecurity at scale.

Listing history

CyberArk listed on Nasdaq on September 24, 2014 at $16 per share, valuing the company at approximately $420 million. Notable acquisitions as a public company: Vaultive (2018), Idaptive (2020), and Venafi (2024, ~$1.54B). The Venafi deal brought machine identity into the platform and was the strategic move that made CyberArk the leading identity-security platform across human, machine, and AI agent identities. Palo Alto Networks announced the acquisition in July 2025 and closed on February 11, 2026 at approximately $25 billion.

Watch points

• Integration milestones inside Palo Alto Networks — product roadmap, customer overlap, sales-force motion.
• Israeli engineering retention and the planned TASE secondary listing under CYBR.
• Machine identity and AI agent identity product traction — the Venafi-enabled growth vector.
• Competitive dynamics with Okta, Microsoft Entra, and the broader identity-security cohort.
• The broader impact on Israeli cyber M&A — CyberArk's exit as a benchmark for the next wave.

FAQ

What is CyberArk?

The Israeli cybersecurity company that built the privileged access management category. Founded 1999 in Petah Tikva by Udi Mokady and Alon Cohen. Listed on Nasdaq: CYBR from September 2014. Acquired by Palo Alto Networks on February 11, 2026 for approximately $25 billion.

Who founded CyberArk?

Udi Mokady and Alon Cohen — both Israeli engineers with enterprise-security backgrounds. Mokady served as CEO from 1999 through 2023.

Who runs CyberArk now?

Matt Cohen, formerly CyberArk's chief operating officer, has been CEO since 2023 and continues to lead the identity-security business inside Palo Alto Networks post-acquisition.

How much did Palo Alto Networks pay for CyberArk?

Approximately $25 billion — the largest cybersecurity acquisition in history and the second-largest Israeli technology exit ever (after Google's $32 billion acquisition of Wiz). Announced July 2025, closed February 11, 2026.

What was the Venafi acquisition?

CyberArk's 2024 acquisition of Venafi for approximately $1.54 billion. Brought machine identity and certificate management into the platform — the strategic move that positioned CyberArk as the leading identity-security platform across human, machine, and AI agent identities before the Palo Alto Networks transaction.

בעברית

סייברארק (נאסד"ק: CYBR) — חברת הסייבר הישראלית שבנתה והגדירה את קטגוריית ה־Privileged Access Management. נוסדה ב־1999 בפתח תקווה על ידי אודי מוקדי ואלון כהן. הונפקה בנאסד"ק ב־24 בספטמבר 2014 ב־16 דולר למניה. נרכשה על ידי פאלו אלטו נטוורקס תמורת כ־25 מיליארד דולר — העסקה נסגרה ב־11 בפברואר 2026, הרכישה הגדולה ביותר בהיסטוריה של תעשיית הסייבר. יחד עם רכישת Wiz על ידי גוגל ב־32 מיליארד דולר, שתי העסקאות בשנה וארבעה חודשים האחרונים הסתכמו בכ־57 מיליארד דולר — סימן מוסדי לכך שתעשיית הסייבר הישראלית היא הספקית המבנית של הדור הבא של אבטחת המידע העולמית. מטה בפתח תקווה, כ־3,500 עובדים, הכנסות של כ־מיליארד דולר ב־2024. מנכ"ל: מאט כהן (מ־2023). רכישות מרכזיות בתקופה הציבורית: Vaultive (2018), Idaptive (2020), Venafi (2024, כ־1.54 מיליארד דולר). תחת פאלו אלטו, בסיס ההנדסה בפתח תקווה נשמר, ותוכננה רישום משני בבורסת ת"א תחת הסימול CYBR.