US-headquartered cybersecurity management software provider Axonius completed a $200m series E round yesterday featuring DTCP, the investment manager backed by telecommunications firm Deutsche Telekom, at a $2.6bn valuation.
Venture capital firm Accel led the round, which included Lightspeed Venture Partners, Bessemer Venture Partners (BVP), Silver Lake Waterman, Alta Park Capital, Owl Rock, Alkeon Capital, Iconiq Growth and Stripes. It took the company’s overall funding to $395m.
Founded in 2017, Axonius operates a cybersecurity asset management platform that lets customers catalogue their IT products, giving them greater security visibility. The cash will fund global expansion and further development of its cybersecurity asset management and software-as-a-service management products.
The company claims to have experienced a 135% increase in annual recurring revenue in 2021, its third year of triple-digit revenue growth in a row.
DTCP had joined Iconiq Growth, Alkeon Capital and Harmony Partners to buy VC firm YL Ventures’ $270m stake in Axonius in March 2021, a deal announced the week after the company raised $100m in series D funding from BVP, Lightspeed Venture Partners, OpenView Venture Capital and Vertex Ventures.
The company’s earlier funding came from YL Ventures, Vertex Ventures, Emerge Capital, BVP, Western Technology Investment and OpenView.
Axonius co-founder and chief executive Dean Sysman said: “From the beginning, our goal has been to help our customers control complexity across their organisations.
“Our massive success since 2017 is a direct result of our intense focus on meeting their needs, and it is why we hold the highest [net promoter score] in the cybersecurity industry. I am honoured to lead our incredible team as we continue working to solve core issues for modern businesses.”
