Cybersecurity Asset Management company Axonius has netted $20m in its Series B round which was led by new investor OpenView.
Existing backers of Axonius including Bessemer Venture Partners, YL Ventures, Vertex, WTI, and Emerge, also contributed funds to the round. The new proceeds bring Axonius’ total equity raised to $37m.
The funding comes just months after the cybersecurity company closed a $13m Series A round from Bessemer Venture Partners, YL Ventures, Vertex, WTI and Emerge.
Having closed the round, the RegTech will look to accelerate demand for its platform, drive customer acquisition, and enhance product innovation.
The company connects to more than 135 security and management solutions to uncover solution coverage gaps and automatically validate and enforce security policies. Its technology offers organisations a unified view of all assets and their coverage.
Axonius CEO and co-founder Dean Sysman said, “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.
“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.”
As part of the deal, OpenView partner Mackey Craven will join the Axonius board of directors. In this role, he will guide the company as it assists organisations in eliminating work needed to understand their assets and automatically adherence to security policies.
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