Axis Security, the leader in Zero Trust Access, announced $32 million in Series B funding. The funding round was led by Canaan Partners, with participation from existing investors Ten Eleven Ventures and Cyberstarts. The company announced that the fund will be used to accelerate growth and meet market demand driven largely by COVID-19 and the work from anywhere movement. As a result of the round, Canaan Partners general partner Joydeep Bhattacharyya has joined Axis Security’s board of directors.
Zero Trust platform
The new funding will drive Axis’ continued development of its Zero Trust platform and expansion outside of North America. It will also enable further investment in go-to-market resources, including an expanded channel program and team. The company also announced enhancements to its Axis Application Access Cloud as well as integrations with leading security providers CrowdStrike, Splunk and Okta. Dor Knafo, co-founder and CEO of Axis Security said,
“Our approach is a proven game-changer for customers. We’re solving one of the most complex security challenges IT faces right now in rapidly onboarding remote workers and third parties simply and securely. Doing this at scale is proving to be far more difficult than many organizations expected. We’re giving IT teams a single, managed solution for access, security, control and scalability without the complexity and end-user headaches of what’s available today.”