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Axonius Scores Mega Funding, Now Sports $2.6 Billion Valuation

The company, having grown significantly, has closed on a funding round that will accelerate global expansion and scale.

Allison Francis

March 8, 2022

2 Min Read
Growth funding
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Axonius has closed $200 million in a funding round led by Accel. This included participation from new investors Silver Lake Waterman, Alta Park Capital and Owl Rock, a division of Blue Owl. In addition, existing investors Bessemer Venture Partners, Lightspeed Venture Partners, Alkeon, Stripes, ICONIQ, and DTCP participated.

This investment follows a 2021 round of $100 million, increasing total funding to $395 million. The company now says it is worth $2.6 billion.

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Accel’s Matt Weigand

“Axonius has transformed the way companies manage and secure their assets, solving foundational problems for teams struggling to control complexity,” said Matt Weigand, partner at Accel. “Axonius has achieved tremendous growth in such a short time, and we believe that their deep understanding of IT and security challenges have positioned them to be the system of record for all infrastructure.” 

History

The company formed in 2017 with a simple approach in mind to solving a decades-old problem — asset visibility and security in complex IT environments. Continuing its fast growth path, Axonius closed 2021 with a 132% year-over-year increase in annual recurring revenue. This marked its third consecutive year of triple-digit revenue growth. It also nearly tripled the size of its team, and now has a presence in every region worldwide. 

In 2021, Axonius nearly doubled its customer base. Hundreds of companies from around the world use Axonius to help them control complexity within their environments. 

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Axonius’ Dean Sysman

“Accel’s history of investing in companies that are redefining markets aligns perfectly with our goals and commitment to innovation,” said Dean Sysman, co-founder and CEO, Axonius. “From the beginning, our goal has been to help our customers control complexity across their organizations. Our massive success since 2017 is a direct result of our intense focus on meeting their needs, and it’s why we hold the highest NPS score in the cybersecurity industry. I’m honored to lead our incredible team as we continue working to solve core issues for modern businesses.”

The funding round will support continued efforts by Axonius in scaling to meet global customer demand.

Want to contact the author directly about this story? Have ideas for a follow-up article? Email Allison Francis or connect with her on LinkedIn.

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About the Author(s)

Allison Francis

Allison Francis is a writer, public relations and marketing communications professional with experience working with clients in industries such as business technology, telecommunications, health care, education, the trade show and meetings industry, travel/tourism, hospitality, consumer packaged goods and food/beverage. She specializes in working with B2B technology companies involved in hyperconverged infrastructure, managed IT services, business process outsourcing, cloud management and customer experience technologies. Allison holds a bachelor’s degree in public relations and marketing from Drake University. An Iowa native, she resides in Denver, Colorado.

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