Cloud software company ServiceNow Inc. has announced a definitive agreement to acquire data security platform firm Veza Inc. for an undisclosed amount. Reports indicate that the acquisition price could exceed $1 billion, as discussions had advanced prior to the announcement.
Founded in 2020, Veza specializes in an identity-security platform designed to answer a critical organizational question: “Who can – and should – take what action on what data?” Central to its offerings is the Veza Access Graph, a comprehensive, metadata-driven system that aggregates and standardizes identity and permission data from various enterprise systems. This includes support for data lakes, databases, cloud infrastructure, software-as-a-service applications, on-premises systems, and custom applications.
The Veza Access Graph constructs a detailed map of all identities—human, machine, or third-party—and their associated entitlements. This functionality provides organizations with full visibility into who has access to specific data and the permissions associated with that access. The platform facilitates essential identity governance workflows, including automated access reviews, entitlement management, and lifecycle management of permissions. By doing so, it enables organizations to uphold the principle of least privilege while identifying overprivileged accounts, dormant permissions, and misconfigurations.
This acquisition will significantly expand the capabilities of ServiceNow’s Security and Risk portfolios, particularly in the realm of identity security. Once integrated, Veza’s technology will empower organizations to gain control over who and what can access their critical data, applications, systems, and artificial intelligence outputs. The collaboration aims to deliver end-to-end identity security, fundamentally rooted in minimizing enterprise risk.
Amit Zavery, President, Chief Operating Officer, and Chief Product Officer at ServiceNow, highlighted the importance of continuous visibility into permissions across all identities. “In the era of agentic AI, every identity – human, AI agent, or machine – is a force for enterprise impact. It’s only when you have continuous visibility into each identity’s permissions that you can trust it,” he stated.
Veza has raised at least $235 million in funding, according to data from Tracxn. The company’s latest funding round, which occurred in April 2023, brought in $108 million. Notable investors in Veza include New Enterprise Associates Inc., Accel Partners LP, Google Ventures, True Ventures LP, Ballistic Ventures, The Blackstone Group Inc., Norwest Venture Partners LP, Atlassian Corp. Plc, Workday Inc., Snowflake Inc., and JP Morgan Chase & Co.
This strategic acquisition positions ServiceNow to leverage Veza’s innovative technology, enhancing its offerings in identity security and ultimately helping organizations better manage and secure their data in an increasingly complex digital landscape.
