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Cybersecurity Funding

Secure Access Provider Axis Security Raises $32 Million

Enterprise application access provider Axis Security this week announced that it has raised $32 million in Series B funding, which brings the total raised by the company to $49 million.

Enterprise application access provider Axis Security this week announced that it has raised $32 million in Series B funding, which brings the total raised by the company to $49 million.

The San Mateo, California-based firm was founded in 2018 and emerged from stealth in March this year, aiming to help organizations provide employees with easy and secure access to internal applications even when working from home.

Axis Security offers a cloud-based zero-trust platform, Application Access Cloud, which allows employees to connect to enterprise applications without touching the application.

The new funding, Axis says, will help accelerate growth and meet an increased demand for its product, generated by the current coronavirus crisis, which has resulted in a large number of organizations allowing employees to work from home.

Axis will use the funds to continue the development of its Zero Trust platform, but also to extend operations outside of North America. The startup also plans on investing in go-to-market resources.

The new funding round was led by Canaan Partners, but also saw participation from existing investors Ten Eleven Ventures and Cyberstarts.

“Our approach is a proven game-changer for customers. We’re solving one of the most complex security challenges IT faces right now in rapidly onboarding remote workers and third parties simply and securely. Doing this at scale is proving to be far more difficult than many organizations expected. We’re giving IT teams a single, managed solution for access, security, control and scalability without the complexity and end-user headaches of what’s available today,” Axis Security co-founder and CEO Dor Knafo said.

Also this week, the company announced a series of enhancements to the Application Access Cloud platform, and integration with CrowdStrike, Splunk and Okta solutions.

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Related: Blockchain Security Startup Valid Network Raises $8 Million in Seed Round

Related: GreyNoise Raises $4.8 Million in Seed Funding to Combat Alert Fatigue

Related: Website Security Provider Source Defense Raises $10.5 Million

Related: Web Traffic Security Provider Kasada Raises $10 Million

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

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