Cloud software maker ServiceNow Inc. announced today that it has signed an agreement to acquire data security platform company Veza Inc. for an undisclosed sum.

Although the price ServiceNow paid was not disclosed, a report in late November that said acquisition talks were advance suggested that the acquisition price could be more than $1 billion.

Founded in 2020, Veza offers an identity-security platform that is focused on helping organizations answer a fundamental question: “Who can — and should — take what action on what data.”

Veza’s platform offers the Veza Access Graph, a unified, metadata-driven graph that ingests and normalizes identity and permission data from across an enterprise’s systems, including support for data lakes, databases, cloud infrastructure, software-as-a-service apps, on-prem systems and custom applications. The graph builds a map of all identities, be they human, machine or third-party, and their entitlements to deliver full visibility into who has access to what and via which permissions

With the Veza Access Graph, the company delivers identity governance workflows that include automated access reviews, entitlement management, lifecycle management of permissions and access requests and certifications in a centralized platform. What it delivers helps organizations enforce the principle of least privilege, detect overprivileged accounts, dormant permissions and misconfigurations, as well as being able to remediate the discovered access risks.

For ServiceNow, the acquisition will extend the capabilities of ServiceNow’s Security and Risk portfolios into identity security. Once complete and Veza’s technology is integrated with ServiceNow, organizations will be able to understand and control who and what has access to their critical data, applications, systems and artificial intelligence artifacts, ServiceNow said.

Together, Veza and ServiceNow will enable end-to-end identity security rooted in the principle of least privilege that significantly reduces enterprise risk.

“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,” said Amit Zavery, president, chief operating officer and chief product officer at ServiceNow. “By combining Veza’s industry-first Access Graph with ServiceNow’s AI Control Tower and agentic workflows, we can give customers a true single pane of glass, with control of every identity in their organization.”

Coming into its acquisition, Veza had raised at least $235 million, according to data from Tracxn, although that figure may not include earlier funding rounds. The company’s most recent round was $108 million in April.

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.

Image: Veza