Deutsche Telekom-backed DTCP was among the investors that pushed the cybersecurity management platform developer’s valuation to $2.6bn.
Axonius, a US-headquartered cybersecurity management software provider, raised a $200m series E round featuring DTCP, the investment managing firm backed by telecoms firm Deutsche Telekom, reportedly at a $2.6bn valuation. The round also featured venture capital firm Accel, which led it, in addition to Lightspeed Venture Partners, Bessemer Venture Partners, Silver Lake Waterman, Alta Park Capital, Owl Rock, Alkeon Capital, Iconiq Growth and Stripes. The round took the company’s overall funding to $395m.
Launched in 2017, Axonius runs a cybersecurity asset management platform which enables customers to catalogue their IT products. The fresh funding will support 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.
Axonius is part of the wider cybersecurity space which has caught the attention of corporate venture investors, as the historical bar chart below shows. Over the past few years, we have been reporting hundred or more corporate-backed rounds in this space each year. In 2021, the number of such deals spiked to 161, up from 108 in the previous year and so did the total estimated capital in those rounds, which increased multi-fold over the same period from $3.23bn in 2020 to $11.17bn by the end of last year.