NEW YORK–(BUSINESS WIRE) – Axonius, the cybersecurity asset management company, announced today that it has raised $ 100 million in Series D funding, led by Stripes, a leading New York growth stock company, and existing investor Bessemer Venture Partners (BVP). , OpenView, Lightspeed and Vertex. Ken Fox, founder and partner of Stripes, joins the Axonius board of directors. This final round follows a $ 58 million investment in 2020 that brings total funding to $ 195 million at a valuation of more than $ 1 billion.
“It’s always exciting to invest in fast-growing, innovative companies that create categories, but what Axonius has accomplished in such a short amount of time is remarkable,” said Fox. “With a commitment to solving a fundamental challenge with a simple, powerful platform that collects and correlates data from hundreds of products that its customers are already using, Axonius has created one of the most popular security products. We look forward to working with the Axonius team as they continue to invest in technical innovation and grow to meet global demand in 2021 and beyond. ”
Axonius will leverage the new funds to scale business growth globally and expand its cybersecurity asset management platform to meet growing market demand while maintaining its commitment to product simplification and customer value. After Axonius doubled its number of employees during the pandemic and achieved three-digit annual recurring sales growth in 2020, Axonius is continuing its rapid growth course.
“At BVP we always try to quantify and measure how quickly the most innovative companies in the world get from founding to annual recurring sales of 100 million US dollars and a possible IPO,” said Amit Karp, partner at BVP and Axonius Board member. “Axonius is one of the fastest growing companies in BVP history as it took the company less than 15 months to grow from ARR 1 million to ARR 10 million.”
Customer demand for cybersecurity asset management and the immediate value the platform provides to customers are major drivers of the company’s growth. By integrating with more than 300 security and management solutions, Axonius is deployed in minutes to provide customers with a credible, up-to-date and comprehensive asset inventory that can be used to detect security vulnerabilities and automatically validate and enforce security policies.
“We have found Axonius to be invaluable in bringing together and leveraging our existing sources of inventory data in our environment and painting a clearer, more complete picture of our environment,” said Nick McNulty, director of vulnerability management at ETS Joint security services at John Hancock, a division of Manulife Financial Corporation. “As a security organization, the automation that Axonius is applying to this problem for us, freeing up valuable human resources, was a literal force multiplier.”
“Despite a turbulent 2020, I am incredibly proud of what the Axonius team has achieved,” said Dean Sysman, CEO and co-founder of Axonius. “This new round of financing with the most successful investors in our industry underscores the incredible work our team has done so far, as well as our commitment to our customers. I often say that time is the enemy of cybersecurity. With the speed and pace of change, IT and security teams can no longer afford to spend time manually compiling data about devices, users, and cloud instances; and compliance. We strive to solve a real problem so our customers can focus on what is important. ”
Read the Axonius blog to learn more about the company’s funding plans and how Axonius is solving one of cybersecurity’s biggest and most comprehensive challenges.
Stripes is a leading growth stock company that offers a unique, entrepreneurial approach to investing in high-growth SaaS and consumer companies around the world. For over a decade, Stripes has worked with market leaders to give them the support they need to accelerate growth and realize their long-term vision. Stripes’ mission is to have a culture, resources and expertise that will give entrepreneurs an unparalleled advantage in markets that are rapidly evolving due to changes in technology and consumer behavior. More information about Stripes can be found at https://www.stripes.co/.
Axonius is the cybersecurity asset management platform that enables companies to compile a comprehensive asset inventory, uncover gaps in the coverage of security solutions, and automatically validate and enforce security policies. Thanks to the seamless integration into over 300 security and management solutions, Axonius is deployed within minutes and cyber hygiene is improved immediately. Axonius covered millions of devices at clients such as the New York Times, Schneider Electric, AB InBev, Landmark Health, AppsFlyer and many others and was named the Most Innovative Startup of 2019 and the CNBC 2019 Upstart by the prestigious RSAC Innovation Sandbox, 100 list and was one of the 20 Rising Stars on the Forbes 2019 Cloud 100 list. To book a demo, try Axonius for free or visit Axonius.com to learn more.