In 2017, Gartner predicted there would be more than 20 billion connected devices globally. And in a recent survey conducted by Spiceworks, 90% of IT professionals expressed concern that the influx would create security and privacy issues in the workplace.
This is where Axonius comes in. Axonius is able to identify how many devices are actually on a network, where they are, and what they do there. Its agentless solution streamlines asset management and spotlights coverage gaps by automatically validating and enforcing security policies. It connects with existing software and networking gear to build an inventory of assets that spans cloud and on-premises environments, whether the devices are managed or unmanaged.
The idea for the company came when CEO and Co-Founder Dean Sysman, was previously working at another firm, the Integrity Project (now a part of Mellanox). “Every CIO I met I would ask, ‘do you know how many devices you have on your network?’ And the answer was either ‘I don’t know,’ or a big range, which is just another way of saying, ‘I don’t know,’” Sysman told TechCrunch in 2020. “It’s not because they’re not doing their jobs but because it’s just a tough problem.”
Axonius supports one-off and ongoing queries that help illustrate how assets relate to security policies, and it packs in trigger functionality that enables the programming of rules that kick off enforcement responses like software installs and device scans. Its cybersecurity capabilities are further bolstered by support for third-party apps and services. Axonius integrates with over 200 platforms, including Active Directory and cloud instances like Amazon, as well as endpoint protection tools, NAC solutions, mobile device management, VA scanners, and more.
Now, the cybersecurity startup has announced it has raised $100 million in Series D funding, valuing the company at over $1 billion. The round was led by Stripes, a leading New York-based growth equity firm, with participation from existing investors Bessemer Venture Partners, OpenView, Lightspeed, and Vertex. Ken Fox, Founder and Partner at Stripes, will join the Axonius board of directors.
This later infusion of funds comes right after Axonius doubled its staff throughout the pandemic and accomplished triple-digit yearly profit development in 2020. It follows a 2020 investment of $58 million, increasing complete funding to $195 million.
