Axonius, a cybersecurity asset management platform provider, has secured $100 million in a Series D funding round led by growth equity firm Stripes. In addition, Stripes founder Ken Fox will join Axonius's board of directors. The funding arrives amid continued growth in the company's partner program.
The Series D funding brings Axonius's total funding to $195 million, the company stated. It also gives Axonius a total valuation of over $1 billion.
Axonius will use the Series D funding to scale its operations globally, drive innovation and expand its Cybersecurity Asset Management Platform's capabilities, the company said.
The Series D funding comes after Axonius accelerated its growth in 2020. Axonius's milestones in 2020 included:
- Doubling its staff
- Achieving triple-digit annual recurring revenue (ARR) growth (Axonius grew from $1 million ARR to $10 million ARR in less than 15 months)
- Receiving $58 million in total investments
Furthermore, Axonius has at least 70 partners worldwide following the launch of its partner program in April, the company stated. Partners now drive more than 50 percent of Axonius's new business, and 60 percent of the company's revenue in Q3 and Q4 of 2020 came through channel partnerships.
A Closer Look at Axonius's Cybersecurity Asset Management Platform
Axonius's Cybersecurity Asset Management Platform provides organizations with a unified view of their assets and security coverage, the company noted. It gives organizations a complete inventory of their IT environments, so they can identify coverage gaps in their asset security.
Organizations can integrate Axonius's Cybersecurity Asset Management Platform with more than 300 security and management solutions, including:
- Endpoint protection
- Mobile device management (MDM)
- Network access control
- Vulnerability assessment
Also, Axonius's Cybersecurity Asset Management Platform lets organizations customize their security policy enforcement, the company stated. It allows organizations to set triggers and automate responses to validate their security policies and automate their enforcement.