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Axis Security Raises $32 Million, Expands Its Tech

“Axis has quickly established itself with a differentiated, already proven approach to the decades-old problem of securing application access.”

Israel’s Axis Security, which provides cybersecurity services, raised $32 million in a Series B funding led by Canaan Partners, with participation from existing investors Ten Eleven Ventures and Cyberstarts. The firm provides security for the transfer of all manner of data and information through on line cloud services. In today’s world, especially with the Covid-19 shutdowns, working remotely through a cloud-based service has become more of a necessity.

Axis has also announced that it is expanding its services through integrations with security information and event management (SIEM), identity management and endpoint security vendors Splunk, Okta and CrowdStrike to provide organizations with an integrated fabric for securing access to applications via its Application Access Cloud platform.

“Axis has quickly established itself with a differentiated, already proven approach to the decades-old problem of securing application access,” said Canaan Partners general partner Joydeep Bhattacharyya. “What has been most impressive to us is how the company has moved quickly and met the opportunity since coming out of stealth in March. It is a testament to the team and the power of the Axis platform. The company is rising at the right moment and we are humbled to become their partner at such a pivotal time.”

“Our approach is a proven game-changer for customers,” said Dor Knafo, co-founder and CEO of Axis Security. “We’re solving one of the most complex security challenges IT faces right now in rapidly onboarding remote workers and third parties simply and securely. Doing this at scale is proving to be far more difficult than many organizations expected. We’re giving IT teams a single, managed solution for access, security, control and scalability without the complexity and end-user headaches of what’s available today.”

“When it comes to application access for third parties, maintaining a Zero Trust posture and having the ability to do continuous security monitoring of every user, request and action is what separates the Axis Application Access Cloud from legacy VPN solutions,” said Prabash Coswatte, CISO of leading Hispanic supermarket chain Cardenas Markets.

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