Accel and Lightspeed Ventures lead the investment to continue to scale Axonius' global reach and product innovation
Company Exceeded $100 Million Annual Recurring Revenue in 2023
NEW YORK — March 5, 2024 — Axonius, the leader in cybersecurity asset management and SaaS management, today announced it has secured $200 million in a Series E extension funding round led by Accel and Lightspeed Venture Partners. Existing investor Stripes also participated. This new round of funding is intended to accelerate innovation and scale across the globe as demand for the Axonius Platform continues to grow. The company crossed $100 million in annual recurring revenue in 2023 as it continues to expand its customer base, which includes more than a dozen of the Fortune 500 and global organizations such as Schneider Electric, News Corp, and Anheuser-Busch InBev. The company also supports four of the five major U.S. Department of Defense service agencies.
"Axonius has gone from zero revenue to exceeding $100 million in ARR in just 4.5 years, making us one of the fastest growing cybersecurity companies,” said Dean Sysman, CEO and Co-founder at Axonius. “IT and security teams at over 500 hundred organizations across the globe are using the Axonius Platform to manage an always-expanding sprawl of devices, users, software, SaaS applications, cloud services, and more. We provide a system of record for all their digital infrastructure so they can quickly mitigate threats, navigate risk, automate action, and inform business-level strategy. It’s our ability to help customers Control Complexity™ that has driven incredible adoption, but most importantly, our customers love Axonius and have given us the highest net promoter score known by any cybersecurity or IT vendor in history.”
Late last year, Axonius announced the release of Axonius 6.0, a unified platform that provides a comprehensive understanding of all assets, their relationships, and business-level context. Axonius is now the only company to offer a combined solution for Cyber Asset Attack Surface Management (CAASM), SaaS Security Posture Management (SSPM), and SaaS Management Platforms (SMP). What’s more, Axonius offers over 1,000 platform integrations, the most of any company in the space. The more integrations, the more information Axonius can surface about security gaps, risk, misconfigurations, cost inefficiencies, and more.
“Axonius is the clear leader in the cybersecurity asset management space and is uniquely positioned to meet its customer needs,” said Matt Weigand, Partner at Accel. “The Axonius Platform provides something that no other solution can: a comprehensive view into the entirety of a company’s digital infrastructure to mitigate risk in a world of ever-growing threats. Its differentiation in the market is why revenue growth has been so impressive and why we’re excited to support this round.”
“The Axonius team shares a common ethos: an obsession with helping its customers solve the most foundational and widespread IT and security problems – and it shows,” said Arsham Memarzadeh, Partner at Lightspeed Venture Partners. “Axonius customers love the product. It’s become the operating system for all assets and applications in the enterprise. It’s why we’re bullish on their potential to become one of the largest cybersecurity companies in the world.”
For more on the announcement and its impact on key stakeholders, visit the Axonius blog.
About Accel
Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Atlassian, Bumble, CrowdStrike, Fiverr, Flipkart, Freshworks, Qualtrics, Scale, Segment, Slack, Spotify, Squarespace, Tenable, and UiPath are among the companies Accel has backed over the past 40+ years. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or www.twitter.com/accel.
About Lightspeed Venture Partners
Lightspeed Venture Partners is a conviction-based venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 400+ companies globally, including Snap, Nest, Nutanix, AppDynamics, MuleSoft, OYO, Guardant, StitchFix, and GrubHub. www.lsvp.com
About Axonius
Axonius gives customers the confidence to Control Complexity™ by providing a system of record for all digital infrastructure. With a comprehensive understanding of all assets including devices, identities, software, SaaS applications, vulnerabilities, security controls, and the context between all assets, customers are able to mitigate threats, navigate risk, decrease incident response time, automate action, and inform business-level strategy — all while eliminating manual, repetitive tasks. Recognized as creators of the Cyber Asset Attack Surface Management (CAASM) category and innovators in SaaS Management Platform (SMP) and SaaS Security Posture Management (SSPM), Axonius is deployed in minutes and integrates with hundreds of data sources to provide a comprehensive asset inventory, uncover gaps, and automatically enforce policies and automate action. Cited as one of the fastest-growing cybersecurity companies in history, with accolades from Deloitte, CNBC, Forbes, and Fortune, the Axonius Platform covers millions of assets for customers around the world. To book a demo or start a free trial, visit Axonius.com.
