Axis Security closes $50m Series C to further product development

Axis Security has closed a $50m Series C round to help it increase the development of its zero trust network access services.

The round, which brings Axis’ total funding to $100m, was led by Spark Capital. Additional support came from Canaan Partners, Ten Eleven Ventures and Cyberstarts.

This fresh capital will be used to accelerate product development and feature velocity. Funds will also be used to expand go-to-market initiatives, including expanding the direct sales team, boosting channel partners and increasing integrations and partnerships.

Axis offers a purpose-built cloud-based solution aimed at improving application access. Its App Access Cloud solution enables secure remote access of networks.

Axis Security co-founder and CEO Dor 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.”

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