Device management co Axonius raises $4m

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The new funding will finance the Israeli company's mission to secure and manage the growing billions of connected devices in use by businesses.

Israeli device management startup Axonius today announced $4 million in seed financing with an investment from YL Ventures, with participation from Vertex Ventures and Emerge. The new funding will finance the company's mission to secure and manage the growing billions of connected devices in use by businesses by developing a platform that lets IT and security operations teams enable the agile and secure adoption and usage of the widest variety of current and future devices on the network.

The Tel Aviv based company was founded by CEO Dean Sysman, CTO Avidor Bartov and CPO Ofri Shur.

The Axonius platform eliminates blind spots on the network and provides a single place to understand, manage and control the security of end user, compute and IoT devices. By doing so, organizations using Axonius can more quickly and safely take advantage of the capabilities of new and existing networked devices in order to gain competitive advantage in their businesses.

“We are experiencing a Cambrian-like explosion on our networks,” said Yoav Leitersdorf, managing partner at YL Ventures, who led the Axonius funding round. “Mobility, cloud and IoT are creating a near exponential increase in the types and numbers of user, compute and new devices connecting to enterprise networks. With this explosion comes the inherent cyber risk associated with the lack of visibility, security and control.”

Today, IT security and operations teams rely on device-specific, standalone tools using manual processes and custom scripting to tie them together. This leaves these already stretched teams with too much repetitive and error-prone work, poor visibility and capability gaps. It is hard, if not impossible, for them to enable and accelerate the safe adoption and use of all of the current and future devices on their networks.

Sysman said, “It has become an almost impossible task for CIOs and CISOs to answer the simplest questions, such as, ‘How many devices are currently on your network?’ or ‘How many devices on your network shouldn’t be there?’ or ‘Are these devices secure. This lack of visibility and control creates an unwanted speed limit on innovation. With the Axonius Platform, IT and security operations teams gain unprecedented visibility and control of the devices on their networks, allowing them to be innovation partners and enablers for the business.”

Published by Globes [online], Israel business news - www.globes-online.com - on September 6, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Startups Photo: Shutterstock
Startups Photo: Shutterstock
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