EP 52 - Built to Last: CyberArk's 25-Year Innovation Evolution w/ Founder and Executive Chairman Udi Mokady
May 10, 2024
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Udi Mokady, Founder and Executive Chairman of CyberArk, shares his journey from startup to a global identity security leader. He reflects on the evolving threat landscape and the importance of innovation in cybersecurity. Udi emphasizes the cultural values of humility, intelligence, and boldness that shape CyberArk's collaborative environment. He discusses the impact of AI on security strategies and the company’s resilience during crises like COVID-19. Plus, there's a fun nod to Mark Knopfler's new album, which Udi describes as perfect for driving!
Udi Mokady highlights CyberArk's evolution from a small startup to a global leader in identity security over 25 years.
The importance of innovation and AI integration in CyberArk's strategies is emphasized to counter sophisticated cyber threats effectively.
A strong company culture rooted in intelligence, boldness, and humility is crucial for fostering innovation and building customer trust.
Deep dives
The Evolution of CyberArk
CyberArk was founded in 1999 in a small office in Israel, marking the beginning of its journey in the cybersecurity industry with a focus on privileged access management (PAM). Over the years, the company has pioneered the PAM market, expanding its operations globally and growing its workforce to over 3,000 employees across 16 countries. This growth reflects the continuous innovation within CyberArk, which has evolved its offerings to secure both human and machine identities against advanced cyber threats. The founder, Udi Mokati, emphasizes that the company's identity security solutions are designed to protect organizations as they navigate modern challenges and an increasingly complex threat landscape.
Customer Concerns in Cybersecurity
In recent discussions with customers, the top concerns include the growing sophistication of cyber adversaries and the critical importance of identity security in their overall security strategy. Notable incidents, like the attack on MITRE, highlight the increasing difficulty organizations face in protecting their sensitive information and systems from attacks that exploit privilege access. Customers have recognized the necessity of implementing robust identity security measures and are looking to CyberArk for comprehensive solutions that address all types of identities, including machine identities. This shift demonstrates a significant evolution in customer awareness of the threats posed by credential theft and privilege escalation.
Innovation as a Core Strategy
Udi Mokati stresses that innovation is essential for CyberArk to thrive in the fast-paced cybersecurity landscape, especially as threats evolve. His executive chairman role allows him to focus on long-term strategies, including investing in new solutions while preserving company culture. CyberArk's commitment to innovation is exemplified through its partnerships and acquisition strategies, which enhance its capabilities to address contemporary cyber threats. By maintaining close ties with emerging startups and integrating their insights, CyberArk aims to continually adapt and expand its identity security offerings to remain ahead of adversaries.
The Cultural Foundation of CyberArk
A pivotal aspect of CyberArk's success is its strong company culture, which Mokati believes is integral to its identity and operational effectiveness. The organization values traits such as intelligence, boldness, and humility, which are essential for employees to foster innovation and meaningful customer relationships. By creating an environment where every team member feels comfortable sharing ideas, CyberArk has harnessed countless internal innovations that contribute to its mission in the cybersecurity sector. This cultural commitment not only enhances employee satisfaction but also reflects positively on customer interactions, which fosters loyalty and trust.
Looking Forward: Future Aspirations
As CyberArk approaches its 25th anniversary, its aspirations include becoming a leading global player in identity security while maintaining its core values and culture. Mokati envisions a future where the company expands its workforce significantly, bolstering its presence in the global market while ensuring that these growth initiatives do not compromise its culture of humility and innovation. Ultimately, CyberArk aims to be recognized as a trusted partner for businesses navigating the complexities of cybersecurity, evolving alongside threats and technologies. By focusing on sustainability and a commitment to its people, CyberArk seeks to drive long-lasting impact in the cybersecurity landscape.
In this episode of the Trust Issues podcast, host David Puner interviews CyberArk Founder and Executive Chairman Udi Mokady on the occasion of the company’s 25th anniversary. They discuss that milestone and reflect on CyberArk’s growth to becoming the global leader in identity security and the ever-evolving threat landscape – and how the company has scaled to meet it. Udi shares his insights on the company's culture, values, philosophies and lessons he's learned. He also dives into the importance of innovation, the role of AI in cybersecurity and his future aspirations for the company.
And, because we say in the episode that we’ll share it here, Mark Knopfler’s new album is entitled ‘One Deep River’ … Udi describes it as great for driving and optimistic.
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