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Zero Trust Network Access Provider Banyan Security Raises $30 Million

Zero trust network access (ZTNA) solutions provider Banyan Security on Tuesday announced that it has raised $30 million in Series B funding, which brings the total raised by the company to $47 million.

The funding round was led by Third Point Ventures, with participation from Alter Venture Partners, SIG, Shasta Ventures, and Unusual Ventures.

The San Francisco-based security firm says it will invest the funds in sales and marketing, product development, and expansion to new markets and territories.

Banyan Security aims to help organizations improve their overall security in the era of remote workforce, where employees require secure access to critical business applications regardless of whether they work from a coffee shop, an airport, or from home.

Delivering least-privileged access to corporate resources, the company offers a platform that supports hybrid and multi-cloud environments to enforce access policies for users, devices, and applications.

Banyan Security claims that its Zero Trust Remote Access solution can deliver one-click, zero trust access to hosted infrastructure without VPNs, firewall rules, and DNS management requirements.

“This latest funding reinforces the urgent need for advanced remote access solutions that make effective use of zero trust technology, and our team is looking forward to expanding our market footprint to help meet that demand,” Jayanth Gummaraju, CEO and co-founder of Banyan Security, commented.

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