Defakto Security
About Defakto Security
Company overview
Defakto Security is a cybersecurity company founded in 2022 by Danny Oliveri and Eli Nesterov, with its headquarters located in Palo Alto, California. Initially launched as SPIRL, the company rebranded to Defakto to reflect its focus on establishing a modern standard for non-human identity security. Business/Product Breakdown Defakto Security operates a non-human identity and access management platform that replaces static secrets, API keys, and overprivileged service accounts with short-lived, policy-bound identities issued on demand. Built on open protocols including SPIFFE, the platform secures automated interactions for workloads, CI/CD pipelines, multi-cloud environments, and AI agents by embedding verifiable identities into every non-human actor. Core capabilities include automated discovery of machine identities, just-in-time credential issuance, continuous posture assessment, and revocation workflows that integrate natively into existing development pipelines. The system provides centralized audit trails and policy enforcement without requiring changes to underlying code or infrastructure.
Keywords
Revenue
EBITDA
Valuation
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenues | $380 MM | $250 MM | $90 MM | $120 MM | $65 MM |
| Gross Profit | $190 MM | $125 MM | $45 MM | $60 MM | $32.50 MM |
| Net Income (Loss) | $43 MM | $25 MM | $9 MM | $12 MM | $6.50 MM |
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Total Assets | $850 MM | $720 MM | $680 MM | $650 MM | $600 MM |
| Total Liabilities | $450 MM | $400 MM | $380 MM | $350 MM | $320 MM |
| Total Equity | $400 MM | $320 MM | $300 MM | $300 MM | $280 MM |
Ratios
M&A2024-03-15Completed
Investor Sponsors NorthBridge PE | Stake Tags 100% |
Deal Amount $120M | Is PE deal Yes |
Target Company Valuation $1.20 MM | Is deal PE backed Yes |
Techniques Acquisition of Assets, Taken Private | Total Acquired 100% |
Investor Sponsors
Deal Amount
$120M
Target Company Valuation
$1.20 MM
Techniques
Acquisition of Assets, Taken Private
Stake Tags
100%
Is PE deal
Yes
Is deal PE backed
Yes
Total Acquired
100%
Secondary Transaction2023-09-01Canceled
Investor Sponsors -- | Stake Tags Majority |
Deal Amount Undisclosed | Is PE deal No |
Target Company Valuation -- | Is deal PE backed Yes |
Techniques Secondary Sale, Management Buy-out (MBO) | Total Acquired 65% |
Investor Sponsors
--
Deal Amount
Undisclosed
Target Company Valuation
NaN
Techniques
Secondary Sale, Management Buy-out (MBO)
Stake Tags
Majority
Is PE deal
No
Is deal PE backed
Yes
Total Acquired
65%
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