Axonius secures $200 million to scale its global reach and product innovation

Axonius announced it has secured $200 million in a Series E extension funding round led by Accel and Lightspeed Venture Partners. Stripes also participated.

This new round of funding is intended to accelerate innovation and scale across the globe as demand for the Axonius Platform continues to grow. The company crossed $100 million in annual recurring revenue in 2023 as it continues to expand its customer base, which includes more than a dozen of the Fortune 500 and global organizations such as Schneider Electric, News Corp, and Anheuser-Busch InBev. The company also supports four of the five major U.S. Department of Defense service agencies.

“Axonius has gone from zero revenue to exceeding $100 million in ARR in just 4.5 years, making us one of the fastest growing cybersecurity companies,” said Dean Sysman, CEO at Axonius.

“IT and security teams at over 500 hundred organizations across the globe are using the Axonius Platform to manage an always-expanding sprawl of devices, users, software, SaaS applications, cloud services, and more. We provide a system of record for all their digital infrastructure so they can quickly mitigate threats, navigate risk, automate action, and inform business-level strategy. It’s our ability to help customers control complexity that has driven incredible adoption, but most importantly, our customers love Axonius and have given us the highest net promoter score known by any cybersecurity or IT vendor in history,” added Sysman.

Late last year, Axonius announced the release of Axonius 6.0, a unified platform that provides a comprehensive understanding of all assets, their relationships, and business-level context. Axonius is now the only company to offer a combined solution for Cyber Asset Attack Surface Management (CAASM), SaaS Security Posture Management (SSPM), and SaaS Management Platforms (SMP).

What’s more, Axonius offers over 1,000 platform integrations, the most of any company in the space. The more integrations, the more information Axonius can surface about security gaps, risk, misconfigurations, cost inefficiencies, and more.

“Axonius is the clear leader in the cybersecurity asset management space and is uniquely positioned to meet its customer needs,” said Matt Weigand, Partner at Accel. “The Axonius Platform provides something that no other solution can: a comprehensive view into the entirety of a company’s digital infrastructure to mitigate risk in a world of ever-growing threats. Its differentiation in the market is why revenue growth has been so impressive and why we’re excited to support this round.”

“The Axonius team shares a common ethos: an obsession with helping its customers solve the most foundational and widespread IT and security problems – and it shows,” said Arsham Memarzadeh, Partner at Lightspeed Venture Partners. “Axonius customers love the product. It’s become the operating system for all assets and applications in the enterprise. It’s why we’re bullish on their potential to become one of the largest cybersecurity companies in the world.”

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