Total amount raised
$865 Millions
Latest funding date
Location
Axonius has successfully raised $200 million in a Series E extension, achieving a valuation of $2.6 billion. The platform offers comprehensive cybersecurity asset management, aggregating and correlating data from multiple IT and security tools to provide a holistic view of an organization's assets.
Keep reading to explore the intricacies of Axonius's fundraising journey and the investors backing this innovative platform.
What Is Axonius?
Axonius, founded in 2017, is headquartered in New York, New York. The company was established by Avidor Bartov, Dean Sysman, and Ofri Shur.
Specializing in cybersecurity asset management, Axonius offers a platform that provides comprehensive asset inventory and security policy enforcement. Their solutions help organizations uncover security gaps and ensure compliance.
With a workforce of 501-1000 employees, Axonius continues to grow, driven by its mission to enhance cybersecurity through effective asset management.
How Much Funding Has Axonius Raised?
- Seed Round
- Amount Raised: $4M
- Date: September 2017
- Lead Investors: YL Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and enter the market.
- Series A
- Amount Raised: $13M
- Date: February 2019
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the customer base.
- Series B
- Amount Raised: $20M
- Date: August 2019
- Lead Investors: OpenView
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market penetration.
- Series C
- Amount Raised: $58M
- Date: March 2020
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the team.
- Series D
- Amount Raised: $100M
- Date: March 2021
- Lead Investors: Stripes
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion and product development.
- Secondary Market
- Amount Raised: $270M
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Series E
- Amount Raised: $200M
- Date: March 2022
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance the platform.
- Series E Extension
- Amount Raised: $200M
- Date: March 2024
- Lead Investors: Accel, Lightspeed Venture Partners
- Valuation at Round: $2.6B
- Motivation Behind the Round: To bolster valuation and make strategic new hires.
Total Amount Raised: $865M. Current Valuation: $2.6B.
Key Investors
- Accel
- Details: Accel is a global venture capital firm that invests in early and growth-stage technology companies. They have a history of backing some of the most successful tech startups.
- Investment Focus Areas: Technology, software, cybersecurity, consumer internet, enterprise software.
- Notable Investments: Facebook, Dropbox, Slack.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations in the enterprise and consumer sectors. They have been a longstanding partner of Axonius.
- Investment Focus Areas: Enterprise, consumer, health sectors.
- Notable Investments: Snap, AppDynamics, MuleSoft.
- Stripes
- Details: Stripes is a growth equity firm that invests in software and consumer businesses. They focus on partnering with market-leading companies.
- Investment Focus Areas: Software, internet, branded consumer products.
- Notable Investments: Monday.com, Snyk, Reformation.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm that invests in early-stage, growth-stage, and late-stage companies across various sectors. They have a long history of successful investments.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- OpenView Venture Partners
- Details: OpenView Venture Partners is a venture capital firm that focuses on expansion-stage software companies. They aim to help companies grow and scale efficiently.
- Investment Focus Areas: Expansion-stage software companies.
- Notable Investments: Datadog, Instructure, Expensify.
What's Next for Axonius?
Axonius stands at the cusp of significant growth opportunities, driven by the increasing complexity of digital infrastructure and the rising importance of cybersecurity. With over $100 million in annual recurring revenue and a robust customer base, including Fortune 500 companies and U.S. Department of Defense agencies, the company is well-positioned to expand its market presence. The potential to support additional global organizations and enhance their platform to manage a broader range of digital assets presents a vast opportunity for growth.
Future fundraising rounds are likely to attract substantial interest, given Axonius's strong performance and market demand. However, the high-interest rate environment may impact valuation multiples. Despite this, the company's strategic focus on acquisitions and platform enhancements could drive further investment. Challenges such as maintaining rapid growth, ensuring platform scalability, and navigating a competitive landscape will require careful management. Nonetheless, Axonius's trajectory suggests a promising future in the cybersecurity sector.
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