Today, Yubico is excited to announce it has received a new round of investment led by Meritech Capital Partners, a top tier venture capital firm based in Palo Alto, CA.
Existing investors include the Silicon Valley-based leading VCs Andreessen Horowitz (a16z) and NEA, Swedish growth equity firm Bure, and renowned Silicon Valley entrepreneurs Marc Benioff, CEO & Founder of Salesforce, and Ram Shriram, Yubico Chairman and Google founding board member.
“Yubico has built an amazing company. We love the technology, the respect they have earned in the open standards community, and the enthusiasm from their customers. Beyond the efficient business and big market opportunity, Yubico presents a very special culture, unique in the security market. We are looking forward to working with Yubico to make their technology truly ubiquitous,” Says Paul Madera, Managing Director, Meritech.
Yubico has been profitable the last seven years, attracting nine of the top 10 internet brands and millions of users in 160 countries. With this investment, we have more fuel to continue accelerated growth, and we welcome Meritech and the new funds to scale operations across our entire organization.
In conjunction to the company backing by Meritech, Paul Madera, Managing Director, will be joining the Yubico board of directors.
Meritech is making an investment into the company of $25M for a company valuation of $600M. In addition, existing major investors are increasing their holdings, investing $15M in secondary shares, in connection with this round.