Cybersecurity asset management startup Axonius Inc. today revealed it has raised $100 million in new funding on a unicorn valuation of above $1 billion.
The company plans to use the Series D round to expand its cybersecurity asset management platform to meet what it says is surging market demand. The round was led by Stripes and included Bessemer Venture Partners, OpenView, Lightspeed and Vertex. Stripes founder and partner Ken Fox will join the Axonius board.
Founded in 2017, Axonius offers a cybersecurity asset management platform designed to secure and manage connected devices in use by businesses. The platform allows information technology and security teams to see devices for what they are in order to manage and secure them through a unified, extensible and open system.
The system itself integrates information from networked devices and existing device-specific standalone management services to create a single visibility and control environment, enabling IT and security operations teams to engage device adoption and usage safely and at large scale. Integration includes the ability to configure Axonius to surface instances that don’t have antivirus systems installs and track down other types of weak points such as known software vulnerabilities or misconfigured security settings.
Axonius’ platform integration support extends to more than 300 security and management solutions and can be deployed in minutes to provide customers a credible, always up-to-date and comprehensive asset inventory to discover security gaps and automatically validate and enforce security policies.
Like many companies during the COVID-19 pandemic and switch to remote work, Axonius has seen rapid growth, doubling its headcount last year while achieving triple-digit annual recurring revenue growth on an undisclosed base. Notable customers include AppsFlyer, Natera Inc., Landmark Health LLC, Schneider Electric SE, Manulife Financial Corp. and the U.S. federal government.
“I often say that time is the enemy of cybersecurity and the rate and pace of change mean that IT and security teams can no longer afford to spend time manually compiling data about devices, users and cloud instances for things like incident response, audits and compliance,” Dean Sysman, co-founder and chief executive of Axonius, said in a statement. “We’re committed to solving a real problem to let our customers focus on what’s important.”
Including the new round, Axonius has raised $195 million to date, including a round of $58 million in March 2020. Previous investors include Western Technology Investment, YL Ventures and Emerge.
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