Israeli startup Axis Security, which developed a platform to enable secure and private access to organizational applications, announced a $32 million Series B funding round. The investment was led by Canaan Partners, with existing investors Ten Eleven Ventures and Cyberstarts also getting in on the action. The company first emerged from stealth in March 2020 with a total of $17 million in raised funds.
Secure access for cloud applications, anytime, and anywhere
Axis Security has developed zero-trust cloud-based software that provides end-users with secure and private access to their organizational network. Axis’ platform connects users, within minutes from any device, to organizational applications in a safe way, and without disrupting the network or changing the applications.
Axis Security explains that by utilizing its platform solves the issue of secure access to organizational applications and erases the need for VPN network solutions, which the company claims are “complexed, slow, and blind to the operational content.” This becomes an even bigger problem when working with third parties, a distributed workforce, and suppliers, which all may need access to an organization’s network. In addition, the company tells that it deploys an agentless zero-trust access platform that solves application accessibility issues in a secure way without opening any weaknesses in the organization’s firewall.
“Our approach is a proven game-changer for customers,” said Dor Knafo, co-founder and CEO of Axis Security. “We’re solving one of the most complex security challenges IT faces right now in rapidly onboarding remote workers and third parties simply and securely. Doing this at scale is proving to be far more difficult than many organizations expected. We’re giving IT teams a single, managed solution for access, security, control and scalability without the complexity and end-user headaches of what’s available today.”
Axis Security was founded in 2018 by CEO Dor Knafo and CTO Gil Azrielant. With an R&D center based in Tel Aviv employing 18 of the 23 company employees, Axis is headquartered in San Mateo, California. To date, the company has raised a total of $49 million. Furthermore, the company notes that as part of the funding round, Canaan Partners general partner Joydeep Bhattacharyya has joined 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. The company is rising at the right moment and we are humbled to become their partner at such a pivotal time.