The Tel Aviv based cybersecurity asset management company Axonius today announced it has raised $20 million in Series B funding, led by new investor OpenView.
Existing investors Bessemer Venture Partners, YL Ventures, Vertex, WTI, and Emerge also participated in the round, bringing the company’s total funding to $37 million to date. Mackey Craven, partner at OpenView, has joined the Axonius Board of Directors.
This funding enables Axonius to continue to accelerate demand for its Cybersecurity Asset Management Platform, the only asset management solution on the market today that leverages existing security investments to gain unmatched visibility into an organization’s asset inventory.
By seamlessly connecting to over 135 security and management solutions, Axonius uncovers solution coverage gaps and automatically validates and enforces security policies.
The funding will also be used to drive customer acquisition and expedite product innovation following rapid growth and industry validation. Earlier this year, Axonius was named RSA Conference’s “Most Innovative Startup 2019” for solving the asset management challenge, the security industry’s most fundamental, long-standing problem.
“In 2019 alone, we saw more than a 400% increase in Annual Recurring Revenue (ARR), adding Fortune 500 companies as customers and managing more than 3 million assets at public and private companies worldwide,” said Dean Sysman, CEO and co-founder, Axonius.
“We’ve found a way to solve this decades-old problem, and this funding will allow us to double down on our mission to enable our customers to take control of their assets and rest assured their environments are secure.”