San Mateo-based cyber security startup Axis Security raised $32 million in a Series B financing round, the company announced Tuesday. The round was led by Canaan Partners.
The cloud-native platform aims to help enterprises deliver secure, private application access to anyone, anywhere, on any device. The company’s App Access Cloud was created to help organizations connect large numbers of new users to company data and applications without use of a VPN. In an increasingly remote workforce, the tool could prove especially valuable.
“Our application approach solves multiple problems not addressed by existing access solutions, such as VPNs, that operate at the network layer. Because our access service operates at the application layer, we offer a unique level of adaptive control, granular visibility and security,” Dor Knafo, co-founder and CEO of Axis Security, said in a statement.
The additional capital will be used to drive continual development of the platform as well as expand the company’s reach worldwide.
“We’re solving one of the most complex security challenges IT faces right now in rapidly onboarding remote workers and third parties securely,” Knafo continued. “Doing this at scale is proving to be far more difficult than many organizations expected.”
The company recently announced several updates to its platform, including a new policy that allows enterprises to limit user access permissions at the application level through device security checks and directory integration.
Axis has raised $49 million in venture capital financing to date, according to the company. Additional investors Ten Eleven Ventures and Cyberstarts participated in the round.
