The new funding will accelerate Axis’ product development and help expand its sales and business development, the company said.
By ZEV STUBAxis Security CEO Dor Knafo and CTO Gil Azrielant(photo credit: YARDEN ROKACH)
Tel Aviv-based cloud security company Axis Security said Monday it closed a $50 million Series C round, bringing its total raised to date to $100 million. The funding round, led by new investor Spark Capital with participation from existing investors Canaan Partners, Ten Eleven Ventures, and Cyberstarts.The company's solution has a unique architecture that makes it simple to deploy, use, and manage while delivering more secure access, keeping users off the corporate network and reducing risk by isolating applications, Axis 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,” said Dor Knafo, Axis Security co-founder and CEO. “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 new funding will accelerate Axis’ product development and help expand its sales and business development, the company said.
