Cybersecurity asset management startup Axonius raises $200M led by Accel, Lightspeed

Axonius, a cybersecurity asset management and SaaS management startup, has raised $200 million in a Series E extension funding round led by Accel and Lightspeed Venture Partners, with participation from existing investor Stripes. 

The funding aims to fuel global expansion and innovation as demand for the Axonius Platform skyrockets, according to the company's statement. The company claims to have crossed $100 million in annual recurring revenue in 2023 and serving over a dozen Fortune 500 companies and major global organizations.

Axonius growth 

Axonius said that its online platform is used by IT and security teams in over 500 organizations worldwide, managing a vast array of digital infrastructure components. Axonius's unique ability to simplify complex cybersecurity challenges has led to its high adoption rate and the highest net promoter score in the cybersecurity and IT sectors, it said.

Launching Axonius 6.0

The company recently unveiled Axonius 6.0, a unified platform that offers a comprehensive view of all assets, their relationships, and business context. The launch made Axonius the sole provider of a combined solution for Cyber Asset Attack Surface Management (CAASM), SaaS Security Posture Management (SSPM), and SaaS Management Platforms (SMP). 

With over 1,000 platform integrations, Axonius stands out for its ability to identify security gaps, risks, and inefficiencies more effectively than any other company in the space.

What did investors say about Axonius?

“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.

Addressing the expanding market needs for cybersecurity

Despite the challenging economic environment affecting IT budgets and technology investments, Axonius said it remains focused on addressing the expanding market needs for cybersecurity.

“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," said Dean Sysman, CEO and Co-founder at Axonius.

"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," he added.

Join our new WhatsApp Channel for the latest startup news updates