Axonius is the latest RegTech company to reach the unicorn status

Axonius, which designs cybersecurity asset management solutions, has raised $100m in its Series D round, which brings its valuation to $1bn.

US-based growth equity investor Stripes led the round, with capital also coming from existing Axonius backers, including Bessemer Venture Partners (BVP), OpenView, Lightspeed and Vertex.

As part of the deal, Stripes founder and partner Ken Fox will join the Axonius board of directors.

The unicorn plans to use the funds to grow globally and expand its platform to meet the rising demand in the market.

Despite the pandemic, the RegTech managed to double the size of its team and reach a triple-digit annual recurring revenue growth.

Fox said, “It’s always exciting to invest in fast-growing, innovative, category-creating companies, but what Axonius has accomplished in such a short time is remarkable.

“With its commitment to solving a fundamental challenge with a simple, powerful platform that collects and correlates data from hundreds of products its customers already use, Axonius has built one of the most beloved products in security. We look forward to partnering with the Axonius team as they continue to invest in technical innovation and grow to meet global demand in 2021 and beyond.”

Axonius provides businesses with tools to protect asset inventory, uncover coverage gaps and automatically validate and enforce security policies.

With the close of the round, the RegTech company has raised a total of $195m in funding. The cybersecurity company previously raised $58m in its Series C in 2020 from backers including Lightspeed Venture Partners, Bessemer Venture Partners, YL Ventures, Vertex and WTI.

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