Axis Security has announced $32 million in Series B funding led by Canaan Partners, with participation from existing investors Ten Eleven Ventures and Cyberstarts.
Axis will use the funds to accelerate growth and meet market demand driven largely by COVID-19 and the work from anywhere (WFA) movement sweeping the globe. As part of the funding round, Canaan Partners general partner Joydeep Bhattacharyya has joined Axis Security’s board of directors.
The new funding will drive Axis’ continued development of its Zero Trust platform and expansion outside of North America, while enabling further investment in go-to-market resources, including an expanded channel program and team. Of note, the company today also announced enhancements to its Axis Application Access Cloud, as well as integrations with leading security providers CrowdStrike, Splunk and Okta.
Founded by Knafo and Gil Azrielant, Axis has raised a total of $49 million. Ten Eleven Ventures led the Series A, while Cyberstarts led the seed round, both announced in March 2020. Additional investors included Dan Amiga, founder of Fireglass, and board member Michael Fey, co-founder and CEO of Zero Abstraction and former president of Symantec and Blue Coat.
