Cyber Startup Axonius Gets $200 Million in Funding Round

Cyber startup Axonius has secured $200 million in a funding round led by Accel and Lightspeed Venture Partners. Stripes also participated in the funding round.

Axonius expects this new funding to accelerate innovation and scale across the globe as demand for the Axonius platform continues to grow. The company crossed $100 million in annual recurring revenue in 2023 as it continues to expand its customer base, which includes more than a dozen of the Fortune 500 and global organizations. The company also supports four of the five major U.S. Department of Defense service agencies.

Dean Sysman, Axonius’ CEO and co-founder, said that starting as a channel-first company, “we will continue to invest in their channel partners who derive value from Axonius.”

“This funding will be a part of our ongoing investment in channel partners,” he said. “Partners can expect Axonius to be in a better position to enable them to go beyond and do more with their partnership with Axonius than before.”

Axonius' Dean Sysman

Late last year, the cyber startup announced the release of Axonius 6.0, a unified platform that provides an understanding of all assets, their relationships and business-level context. Axonius said it’s now the only company to offer a combined solution for cyber asset attack surface management (CAASM), SaaS security posture management (SSPM), and SaaS management platforms (SMP).

Related:Axonius Selects Cylance Vet to Lead, Grow Channel Program

Cyber Startup to Stay On Path of Efficient Growth

“This funding will keep Axonius on a path of efficient growth, which has been our strategy since day one,” Sysman said. “We are continuing to build out our product suite, grow our platform integrations — of which we have achieved 1,000 thus far — and begin to prioritize inorganic growth through acquisitions in 2024. Inorganic growth specifically will be a key focus for us as we want to make sure we serve every need our customers have through a powerful joint story with the companies with whom we work."

Axonius’ addressable market is “huge” and its vision is to become the largest cybersecurity company in the world, he said.

“This funding only brings us closer to achieving this goal and making us more nimble in the year ahead,” Sysman said.

“Axonius is the clear leader in the cybersecurity asset management space and is uniquely positioned to meet its customer needs,” said Matt Weigand, partner at Accel. “The Axonius platform provides something that no other solution can: a comprehensive view into the entirety of a company’s digital infrastructure to mitigate risk in a world of ever-growing threats. Its differentiation in the market is why revenue growth has been so impressive and why we’re excited to support this round.”