- Axonius recently announced it raised $200 million in Series E funding. These are the details.
Axonius — the leader in cybersecurity asset management and SaaS management — recently announced that it closed $200 million in Series E funding led by Accel, with participation from new investors Silver Lake Waterman, Alta Park Capital, and Owl Rock, a division of Blue Owl, and existing investors Bessemer Venture Partners, Lightspeed Venture Partners, Alkeon, Stripes, ICONIQ, and DTCP. This investment follows a 2021 round of $100 million, increasing total funding to $395 million, with a valuation of $2.6 billion.
Axonius first onto the scene in 2017 with a simple and effective approach to solving a decades-old problem of asset visibility and security in complex IT environments. And providing immediate value recognized by a rapidly growing customer base, the company quickly became one of the industry’s fastest-growing. Axonius had closed 2021 with a significant 132% year-over-year increase in annual recurring revenue, marking its third consecutive year of triple-digit revenue growth. And the company also expanded its team by 174%, and it now has representation in every region worldwide.
Last year, Axonius nearly doubled its customer base. And hundreds of companies from around the world choose Axonius to help them control complexity within their environments. Plus the company counts Fortune 500, Global 500, some of the largest federal agencies, and emerging innovators among its customer base, including many global leaders, such as AB InBev, Schneider Electric, The New York Times, Wacom, MindBody, and Landmark Health.
The funding will support continued efforts in scaling to meet global customer demand. Axonius has been a pioneer in the emerging category of Cyber Asset Attack Surface Management, which Gartner identified in its Hype Cycle for Network Security as on the rise with growing market penetration. And recently, the company’s innovation unit AxoniusX launched SaaS Management, the first and only platform to combine the capabilities of SaaS Security Posture Management with SaaS Management to help security, IT, finance, and risk teams control the complexity, cost, and risk associated with modern apps and infrastructure.
KEY QUOTES:
“Accel’s history of investing in companies that are redefining markets aligns perfectly with our goals and commitment to innovation. From the beginning, our goal has been to help our customers control complexity across their organizations. Our massive success since 2017 is a direct result of our intense focus on meeting their needs, and it’s why we hold the highest NPS score in the cybersecurity industry. I’m honored to lead our incredible team as we continue working to solve core issues for modern businesses.”
— Dean Sysman, co-founder and CEO, Axonius
“Axonius has transformed the way companies manage and secure their assets, solving foundational problems for teams struggling to control complexity. Axonius has achieved tremendous growth in such a short time, and we believe that their deep understanding of IT and security challenges have positioned them to be the system of record for all infrastructure.”
— Matt Weigand, partner at Accel
