Portnox, a cloud-native network and endpoint security solution, today announced the closing of a $22 million Series A fundraising round led by Elsewhere Partners. They also recently appointed Denny LeCompte, an accomplished technology veteran and Elsewhere Partners operating advisor, to CEO. Co-founder of Portnox Ofer Amitai has transitioned to the role of CTO and has joined the newly formed Board of Directors, while Idan Kuperman, the other co-founder, continues in his long-standing role as head of customer experience.
Since we are at the cusp of the next era of cyber security, there will be an increase in sophisticated threats across a more diverse landscape of devices and ‘offices. This raised the need for Network Access Control (NAC) solutions all the more. However, with the risks and costs associated with network breaches proliferating each year, traditional solutions do not account for the needs of mid-size companies, especially as staffing shortages, skillset gaps and budget constraints continue in today’s volatile market.
Portnox’s coveted cloud-native NAC platform allows users to implement powerful network access control quickly and effectively, as well as endpoint risk posture assessment and remediation policies that can be automatically enforced across many sites. Essentially, it brings quick-to-deploy and easy-to-manage NAC solutions delivered from the cloud to organizations of all sizes. Most on-premises NAC solutions are complex and require dedicated engineers to operate and maintain, which is untenable for resource-light IT departments whose staff bear a diverse range of technical responsibilities at any given time. But Portnox’s cloud-native NAC solution can effectively meet the needs of mid-market organizations by scaling to support increasingly distributed workforces, diverse device types, and sophisticated cyberattacks without overcomplicating IT infrastructures and burdening security teams.
Portnox delivers essential access control and endpoint security functionality that is easy to deploy, even as companies scale up their services, infrastructure, and operational needs.
Portnox eliminates the need for time-consuming system maintenance such as patches and upgrades, offers out-of-the-box integrations with common network hardware and critical security tools (e.g., active directory, MFA, MDM, SIEM), and works seamlessly with most anti-virus and firewall providers.
The funds raised during this round will be used to establish a new global headquarters in Austin, Texas, expand its team, and speed global market penetration with a focus on mid-market organizations. The primary focus for the North American expansion will be to build out the operations, sales, marketing, and customer success teams. Moreover, John Thornton and Nick Stoffregen from Elsewhere Partners will join Portnox’s Board alongside Randy Jacops, CEO of Idera Inc., to support the company’s accelerated market expansion and recruiting efforts.
“After launching the cloud-native version of our comprehensive NAC platform, we experienced overwhelming demand from the mid-market as resource-strapped organizations struggle to keep pace with the security demands of devices in the era of IoT, BYOD, and an increasingly distributed, mobile-reliant workforce. With Elsewhere Partner’s support we will be able to meet the mounting demand for cloud-native NAC while continuing to deliver the exceptional experience our customers have come to expect from our product and team.” - OferAmitai, Portnox Co-founder and CTO.