Axonius, a cybersecurity asset management and SaaS management company, has announced that it closed $200 million in Series E funding.
This investment follows a 2021 round of $US100 million, increasing total funding to $395 million, with a valuation of $2.6 billion.
The funding was led by Accel, with participation from new investors Silver Lake Waterman, Alta Park Capital, and Owl Rock, a division of Blue Owl, and existing investors Bessemer Venture Partners, Lightspeed Venture Partners, Alkeon, Stripes, ICONIQ, and DTCP.
"Axonius has transformed the way companies manage and secure their assets, solving foundational problems for teams struggling to control complexity," says Accel partner, Matt Weigand.
"Axonius has achieved tremendous growth in such a short time, and we believe that their understanding of IT and security challenges have positioned them to be the system of record for all infrastructure."
Axonius came onto the scene in 2017 with a simple approach to solving a decades-old problem of asset visibility and security in complex IT environments. The company provided immediate value and was recognised by a quickly growing customer base.
Continuing its rapid-growth trajectory, Axonius closed 2021 with a significant 132% year-over-year increase in annual recurring revenue, marking its third consecutive year of triple-digit revenue growth. It also expanded its team by 174% and now has representation in every region worldwide.
In 2021, Axonius nearly doubled its customer base, with hundreds of companies globally choosing Axonius to help them control complexity within their environments. The company has Fortune 500, Global 500, some of the largest federal agencies, and emerging innovators among its customer base, including many global leaders, such as AB InBev, Schneider Electric, The New York Times, Wacom, MindBody, and Landmark Health.
"Accel's history of investing in companies that are redefining markets aligns perfectly with our goals and commitment to innovation," says Axonius co-founder and CEO, Dean Sysman.
"From the beginning, our goal has been to help our customers control complexity across their organisations. Our massive success since 2017 is a direct result of our intense focus on meeting their needs, and it's why we hold the highest NPS score in the cybersecurity industry. I'm honoured to lead our incredible team as we continue working to solve core issues for modern businesses."
Funding will support continued efforts in scaling to meet global customer demand. Axonius was a pioneer in the emerging Cyber Asset Attack Surface Management category, which Gartner identified in its Hype Cycle for Network Security as on the rise with growing market penetration.
Recently, the company's innovation unit, AxoniusX, launched SaaS Management, the first platform to combine the capabilities of SaaS Security Posture Management with SaaS Management to help security, IT, finance, and risk teams control the complexity, cost, and risk associated with modern apps and infrastructure.