Cybersecurity firm Axonius valued at $2.6bn following $200m Series E
Cybersecurity asset management firm Axonius has closed a $200 million Series E round, valuing the company at $2.6 billion.
Founded in 2017, Axonius has now raised a total of $395 million to date.
The Series E round was led by Accel and saw participation from new investors Silver Lake Waterman, Alta Park Capital and Owl Rock. Existing investors including Bessemer Venture Partners, Lightspeed Venture Partners, Alkeon, Stripes, ICONIQ and DTCP also took part.
The company aims to support security, IT, finance and risk teams as they manage risk associated with modern apps and infrastructure.
Axonius provides solutions for both cyber asset attack surface management (CAASM) and Software-as-a-Service (SaaS) management. It integrates with hundreds of data sources to provide a comprehensive asset inventory, uncover gaps and automatically validate and enforce policies.
The cash will largely go towards scaling globally to meet demand and developing new products.
Axonius claims it ended 2021 with a 132% year-over-year increase in annual recurring revenue, its third consecutive year of triple-digit revenue growth. The company also grew its workforce by 174% and doubled its customer base over the year.
Axonius co-founder and CEO Dean Sysman says the company’s growth derives from meeting the needs of customers who want to “control complexity across their organisations”.