By MANISH SINGH, VentureBeat
As hackers get smarter and the magnitude of their damage expands, a growing number of cybersecurity firms are trying to persuade legacy companies to rethink their security strategy. Israeli startup Axonius today raised $13 million in series A funding to continue that pursuit.
The round was led by California-headquartered VC firm Bessemer, Axonius said. Amit Karp from Bessemer is joining the startup’s board of directors. YL Ventures, Vertex, WTI, and Emerge, which participated in Axonius’ $4 million seed fund in 2017, have renewed their commitment in this new round.
As our reliance on mobile and internet of things (IoT) devices grows, Axonius is helping companies determine how many people — and devices — are using their network and whether they are all abiding by established security policies.
This is a crucial challenge for businesses, as a single compromised device can jeopardize the whole system. Axonius says its product can be deployed by a company within an hour and can automate the task of assessing and managing connected devices.
Axonius CEO and founder Dean Sysman said, “A security team’s job is already difficult enough, yet they’re still spending time trying to figure out what assets and devices actually exist on their networks and if they adhere to their company’s security policies.”
“This investment enables us to advance Axonius’ technology and help enterprises confidently manage and secure all known and unknown devices on their network,” he added.
Axonius said it will use some of the new capital to expand the offerings of its flagship product — Cybersecurity Asset Management Platform. The startup, which at present counts the New York Times, AppsFlyer, and Natera among its clients, said it will also invest in growing its customer base.
Today’s announcement comes as Axonius is making significant strides in the industry, including being recently shortlisted as one of the 10 finalists in a contest at RSA, a leading cybersecurity conference.