Zero Trust Access leader Axis Security announced Series B funding of $32 million. The financing round was led by Canaan Partners. Among the participants in the round were existing investors Ten Eleven Ventures and Cyberstarts. The company has raised $49 million in total funding.
Axis Security will be utilizing the fresh funding to accelerate its growth and meet market demand that will be driven by Covid-19 and work from home scenarios. The funds will help the company continue the development of its Zero Trust platform and its expansion outside the continent of North America.
Canaan Partners' general partner Joydeep Bhattacharya is joining Axis Security’s board of directors. “Axis has quickly established itself with a differentiated, already proven approach to the decades-old problem of securing application access,” said Bhattacharyya. “What has been most impressive to us is how the company has moved quickly and met the opportunity since coming out of stealth in March. It is a testament to the team and the power of the Axis platform.”
Axis Security was founded by Knafo and Gril Azrielant. The company is solving a great number of challenges as IT continues onboarding remote workers and third parties. Axis’ platform is providing comprehensive a single, managed solution for secure access, control, and scalability.