Cybersecurity Startup Axonius Raises $58M After Year of Fast Growth

March 31, 2020
Axonius
Image: Shutterstock

On Tuesday, cybersecurity company Axonius announced the closing of its $58 million Series C funding round. This new investment comes just seven months after the company closed its $20 million Series B and brings the company’s total funding to $95 million.

As companies get larger, it becomes harder to keep track of every asset they have online, let alone keep them safe from cyberattacks by malicious parties. Axonius offers to help companies by providing an asset management platform that can help identify security gaps and enforce best-practice security policies.

“We’re going after a big, nagging problem that has been around for decades — helping organizations understand what assets they have, whether they’re secure and then helping them make sure every device, user and cloud workload adheres to the overall security policy,” CEO and co-founder Dean Sysman told Built In.

“And when you think of cybersecurity products, you think of things like AI and deception, cutting edge and cool technologies that are really exciting,” Sysman continued. “Not exactly words you’d use to describe asset management, but we’re seeing huge success helping customers solve the most basic problems that they need to solve before they can prioritize the more exciting problems in cybersecurity.”

This new Series C investment comes on the heels of some major company growth. In addition to the recently raised Series B, Axonius reports more than 910 percent year-over-year customer growth. The company also doubled its team. It hopes to use this new funding to continue this fast growth, while expanding its product.

The New York Times, Schneider Electric, Landmark Health and many other companies use Axonius to secure their online assets.

Lightspeed Venture Partners led Axonius’ Series C, with participation from OpenView, Bessemer Venture Partners, YL Ventures, Vertex and WTI.

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