Axonius, a NYC-based cybersecurity startup with huge customers like The New York Times and Landmark Health, announced on Tuesday it raised a $200 million Series E. This funding round more than doubles the company’s previous valuation.
The Series E round, led by Accel, brings Axonius’ total valuation to $2.6 billion. Just last year the company hit unicorn status after raising a $100 million Series D round that brought its valuation to more than $1 billion.
“Accel is investing in us from a fund that is specifically focused on later-stage startups that are ready to dramatically scale,” Dean Sysman, CEO and co-founder of Axonius, told Built In via email. “Their vote of confidence in us and our product is yet another demonstration of how big our opportunity is and how big the potential is to become the system of record for infrastructure for organizations around the world.”
In 2021, Axonius saw a 132 percent year-over-year increase in annual recurring revenue, according to the company. It also grew its employee base by 174 percent and is using a portion of its Series E funding to continue it’s hiring efforts. Axonius plans to bring on 150 employees by the end of the year.
Additionally, funding will go toward scaling Axonius into Asia and Latin America.
According to Sysman, Axonius’ technology integrates with over 400 security and management solutions which, to him, makes it easier for customers to control the complexity that comes with managing a company’s entire information technology set up.
“This round was not unlike our previous rounds, as investors have been clear in that they see our long-term value regardless of short-term market trends,” Sysman said. “This round is another proof point of our longevity and long-term growth opportunity. We see an unlimited amount of potential growth ahead of us this year.”
