Axonius, the cybersecurity asset management company, today announced it has raised $100 million in Series D funding, led by Stripes, a leading New York-based growth equity firm, as well as participation from existing investors Bessemer Venture Partners (BVP), OpenView, Lightspeed, and Vertex. Ken Fox, founder and partner at Stripes, will join the Axonius board of directors. This latest round follows a 2020 investment of $58 million, increasing total funding to $195 million at a greater than $1 billion valuation.
Read More : True Influence Named Company Of The Year in Business Intelligence Group’s BIG Award For Business
“Congrats to @AxoniusInc for raising $100 million in Series D funding. This round increased the company’s total funding to $195 million at a greater than $1 billion valuation.”
“It’s always exciting to invest in fast-growing, innovative, category-creating companies, but what Axonius has accomplished in such a short time is remarkable,” said Fox. “With its commitment to solving a fundamental challenge with a simple, powerful platform that collects and correlates data from hundreds of products its customers already use, Axonius has built one of the most beloved products in security. We look forward to partnering with the Axonius team as they continue to invest in technical innovation and grow to meet global demand in 2021 and beyond.”
Read More : SalesTechStar Interview with Pekka Koskinen, Founder and CEO at Leadfeeder
Axonius will use the new funding to scale company growth globally and expand its cybersecurity asset management platform to meet surging market demand while maintaining its commitment to product simplicity and customer value. After doubling its staff during the pandemic and achieving triple-digit annual recurring revenue growth in 2020, Axonius continues its rapid-growth trajectory.
“At BVP, we always look to quantify and measure how quickly the world’s most innovative companies go from founding to $100 million in annual recurring revenue and eventual IPO,” said Amit Karp, partner at BVP and Axonius board member. “Axonius is among the fastest growing companies in BVP history, as it took the company less than 15 months to grow from $1 million ARR to $10 million ARR.”
Customer demand for cybersecurity asset management and the immediate value the platform delivers to customers are major forces driving the company’s growth. By integrating with more than 300 security and management solutions, Axonius is deployed in minutes to give customers a credible, always up-to-date, and comprehensive asset inventory to discover security gaps, and automatically validate and enforce security policies.
Read More : If You Want to Close More Sales Over Email, Track These Overlooked Metrics