Israeli cybersecurity co Axonius raises $58m

Axonius founders Photo: Avishai Finkelstein

The company's revenue grew 910% in 2019.

Israeli cybersecurity asset management solutions company Axonius has announced a $58 million financing round, its third within a year. The round was led by Lightspeed Venture Partners, with participation from previous investors YL Ventures, which specializes in cybersecurity companies; OpenView; Bessemer Venture Partners; Vertex Ventures; Western Technology Investment (WTI); and Emerge.

IDF Intelligence Corps Unit 8200 veterans CEO Dean Sysman, CTO Ofri Shur, and chief architect Avidor Bartov founded Axonius in June 2017. After his IDF service, Sysman founded a startup named Cymmetria, which developed technology for decoying cyberattacks. Shur and Bartov remained in the security forces before joining Sysman to found Axonius. The company, which has raised a total of $95 million to date, has 80 employees in Tel Aviv and New York.

Axonius says that its revenue grew 910% in 2019, compared with 2018, and that they were one of the fastest-growing cybersecurity companies last year. The platform developed by the company is capable of gathering data from management and information security tools; cloud computing providers, such as Amazon and Google; and suppliers of network and security products. Sysman says that the platform was designed to solve the visibility problem for devices connected to enterprise networks.

"The world of computers was once very homogeneous, but there are now many types of devices, networks, operating systems, and management networks," Sysman told "Globes" following the company's preceding round six months ago. According to him, each of these products "speaks a different language," and Axonius is able to collect the information from more than 100 such sources. In order to do this, Axonium devotes many resources to learning the various "languages" spoken by each product, and to integrating more and more products in the platform.

Published by Globes, Israel business news - en.globes.co.il - on March 31, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Axonius founders Photo: Avishai Finkelstein
Axonius founders Photo: Avishai Finkelstein
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