Asset Management, Cloud Security

Axonius looks toward global expansion with $100 million in Series D funding

Asset management company Axonius announced Monday that it would filter a portion of $100 million raised in Series D funding to expand globally.

This later infusion of cash comes after Axonius doubled its staff during the pandemic and achieved triple-digit annual revenue growth in 2020. It follows a 2020 investment of $58 million, increasing total funding to $195 million and a greater than $1 billion valuation.

“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,” said Dean Sysman, co-founder and CEO at Axonius. “We’re committed to solving a real problem to let our customers focus on what’s important.”

Sysman said by integrating with more than 300 security and management solutions, security teams can deploy Axonius in minutes. The company aims to give customers a credible, always up-to-date, and comprehensive asset inventory to discover security gaps and automatically validate and enforce security policies.

The investment group was headed up by Stripes, a leading New York-based growth equity firm, as well as participation from existing investors Bessemer Venture Partners, OpenView, Lightspeed, and Vertex. Ken Fox, founder and partner at Stripes, will join the Axonius board of directors.

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