Software March 1, 2021

Redefining Cyber Hygiene: Our Investment in Axonius

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Cybersecurity teams interact with countless tools that detect vulnerabilities and remediate breaches to protect their organizations. However, they struggle to answer simple questions about the assets that they are tasked with securing such as how many unmanaged devices are in the organization’s network or whether all devices have received an endpoint detection agent. Asset management is the most foundational aspect of security because everything else depends on it. One of the simplest truths of cybersecurity is that “you can’t protect what you can’t see” - without accurate real-time inventory of assets and proper context about how assets exist under an organization’s security posture, it is impossible to achieve optimal security.

Despite the ubiquitous and fundamental need, most organizations struggle with the asset management challenge. Companies rely on multiple siloed data sources for asset information and often manage asset inventory across these systems with manual processes and spreadsheets. This approach is cumbersome, time intensive, and leaves massive blind spots which result in unprotected security gaps.

The Axonius Solution

Axonius solves this acute need using an agentless and integration-based approach. Axonius gives security teams a complete and unified view of all assets, users, and vulnerabilities by integrating with hundreds of business management and security tools. Axonius aggregates critical data from these solutions and uses algorithms to correlate and de-duplicate the data, providing a single source of truth. The Axonius solution provides all the contextual data around an asset including where it is, what individuals are responsible for the asset, and how it is being protected. In addition to asset visibility, Axonius provides a centralized solution for policy enforcement where customers can push remediation tasks into their respective solutions from within the platform.

Stripes Leads Axonius’ $100M Series D Financing

We are thrilled to announce that Stripes is leading Axonius’ $100 million Series D. Axonius is a category-defining company and at Stripes we remain focused on partnering with founders who are building outstanding products that delight customers.

As we spoke with CISOs, we consistently heard that asset management is the biggest pain point for security organizations. We were surprised that such a fundamental problem remains largely unsolved and were excited to see Axonius tackling it head on and emerging as the clear category creator for cybersecurity asset management with blue chip enterprise customers across finance, healthcare, manufacturing, retail, energy, government, and more. All customers we spoke with expressed genuine love for the product, calling it the most important technology of the dozens they use and an elegant solution to a critical problem. Customers view Axonius as their core “cyber hygiene” platform that is foundational to all their security operations.

Like our investment in Snyk, Axonius is creating a category in cybersecurity with an incredible product that is beloved by its users driving rapid growth and earning permission from security teams to build a platform and keep delivering more value for customers. When we met Dean, Axonius’ Founder & CEO, we were immediately impressed by his unique combination of product focus and technical talent combined with vision and ambition to build a category defining company. We are honored to support Axonius and welcome them to the Stripes family as they challenge the status quo of cybersecurity asset management and build a category defining company.

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