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Axonius Raises $4M to Secure IoT Devices Across Enterprise Networks

Israeli startup Axonius exited stealth mode and announced a $4 million seed round of funding for its mission to secure and manage the growing billions of connected devices in use by businesses.

Today's investment will help Axonius' build out an initial install base for its platform. Backing for the technology platform, which 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, comes from YL Ventures, with participation from Vertex Ventures and Emerge.

"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."

Security researchers have been warning that cyber attacks will continue to occur as smart device adoption continues to soar.  

"We expect more than 10 billion devices will be in use by 2020, and organizations cannot afford to be blind to them," according to Eric Ogren, senior analyst with 451 Research.

This proliferation of device types and numbers introduces significant risk into corporate environments, as organizations have thousands or more of unmanaged, uncontrolled devices on their networks, all of which can be exploited to breach networks, disrupt business and steal information. Axonius said it was founded to solve this very problem.

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.

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.

By standardizing the interface for devices and leveraging existing standalone tools and controls, Axonius delivers a unified, comprehensive view and a simple, centralized way of controlling all devices and device types. Axonius provides open APIs and simple graphical operational interfaces to connect new device types and tools to the platform via adaptors, and new controls via plug-ins. In addition, Axonius provides a modern and secure exchange and sharing infrastructure for these adaptors and plug-ins.

The company is currently offering its Axonius Platform in limited availability to qualified customers but will open it up to General Availability in early 2018. For more information, visit Axonius.com.
Published Wednesday, September 06, 2017 9:23 AM by David Marshall
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