Israeli zero trust network access (ZTNA) company Axis Security today announced the completion of a $50 million Series C financing round led by new investor Spark Capital, with participation from existing investors Canaan Partners, Ten Eleven Ventures, and Cyberstarts. This latest round brings to $100 million the total raised by Axis Security to date.
With offices in Tel Aviv and San Mateo, Axis Security was founded by CEO Dor Knafo and CTO Gil Azreant as well as initial investor Gili Raanan.
Knafo said, "When the pandemic hit, the impact of work-from-anywhere was immediate and profound, and organizations trying to scale legacy access technologies really struggled. Axis was well positioned and within months we were enabling secure remote access for hundreds of thousands of users and millions of connections. The Application Access Cloud functions as a logical overlay, greatly reducing risk and significantly strengthening security. This technology has the capability to significantly reduce growing cyber threats such as those enabled by the recent SolarWinds and Microsoft email server breaches."
The company's Axis Security Application Access Cloud brokers enterprise access to replace multiple complicated remote access technologies such as VPNs, virtual desktop infrastructure (VDI), and inline cloud access security broker (CASB) services with a simple zero trust platform.
The App Access Cloud has an architecture that makes it easy to deploy, use, and manage while delivering more secure access - keeping users off the corporate network, and reducing risk by isolating applications. It enables more use cases than any other ZTNA solution accommodating any application or user as well as latency-sensitive and multi-directional access scenarios. The App Access Cloud changes the game with a ZTNA solution that is finally able to fully replace and go beyond legacy VPNs, without replicating or changing the existing network.
The latest investment will speed up Axis’ product development and feature velocity, and expand go-to-market initiatives, including expanding its direct sales team, support for channel partners, integrations, and partnerships with leading security information and event management, security orchestration, automation and response, identity management, and endpoint security vendors among others.
Published by Globes, Israel business news - en.globes.co.il - on March 22, 2021
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