Axonius Secures $4M in Funding, Aims to Secure Connected Devices

Axonius, a startup based in Israel, announced $4 million in funding Wednesday. The company aims to secure and manage the connected devices in the enterprise. The company’s platform 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,” according to a recent release.

The growing number of mobile devices means a larger risk for organizations as they have thousands, if not more, unmanaged and uncontrolled devices on their networks.

“We expect more than 10 billion devices will be in use by 2020, and organizations cannot afford to be blind to them,” Eric Ogren, senior analyst at 451 Research, said in the release.

One benefit of the Axonius platform is that it removes blind spots from the network and offers a single console to manage and control the security of end user and IoT devices. This allows organizations to benefit from the capabilities of networked devices, according to the release.

“We are experiencing a Cambrian-like explosion on our networks,” Yoav Leitersdorf, managing partner at YL Ventures, said in the release. “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.”

IT departments typically utilize device-specific tools with manual processes and custom scripting to unite them, which often means repetition, errors and capability gaps, the release reported. This makes it difficult for them to enable the “safe adoption and use of all of the current and future devices on their networks.”

Axonius has standardized the interface for devices and leveraged current standalone tools to provide a comprehensive view and an easy way to control devices, the release said. The tool offers open APIs and graphical operational interfaces to connect new devices to the platform with the use of adaptors and new controls with the use of plug-ins.

“The team at Axonius has the right vision to help organizations unlock the innovation promised by using these new devices and technologies. Axonius will significantly disrupt the market as the go-to platform in the rapidly growing device and IoT security management space,” Leitersdorf said in the release.

Axonius CEO and Co-founder Dean Sysman said that modern IT landscapes have evolved over the last 10 years from controlled architecture to decentralized.

“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?’” said Sysman. “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.”

The funding was led by YL Ventures with Vertex Ventures and Emerge both participating. The Axonius platform is in limited availability for qualified customers currently but will be generally available in early 2018.