The company was last valued at $1.2B in March 2021. Here are the top-line bullets you need to know.
Axonius, a provider of cybersecurity asset management technology, has raised $200M in a Series E. The round drew participation from Accel, ICONIQ Capital, Lightspeed Venture Partners, and Bessemer Venture Partners, among others.
How’s the company performing?
- New York-based Axonius helps enterprises analyze IT assets to detect and manage potential security risks.
- The company’s annual recurring revenue increased 132% year-over-year in 2021.
- The company doubled the size of its customer base in 2021, and it currently caters to several organizations, such as AB InBev, The New York Times, MindBody, Landmark Health, and Schneider Electric.
- It saw its employee headcount increase 174% in 2021.
- Axonius is on track to file for an IPO within the next 2 years.
Source: Axonius
Why does the market matter?
- The global cybersecurity market is expected to reach a value of $478.7B by 2030, growing at a CAGR of 9.5%, according to Allied Market Research.
- The acceleration of digital trends has left companies more dependent on technology than ever, opening the door to more frequent and devastating cyber-attacks. The growing number of complex attacks and the need for secure networks in hybrid (online-offline) environments are fueling the market’s growth.
- Increased digitization amid the Covid-19 pandemic has also contributed to market growth.
