March 17, 2020 / 12:14 PM / 20 days ago

U.S.-Israeli cybersecurity firm Axis Security raises $17 million

TEL AVIV (Reuters) - Axis Security, whose technology provides organizations secure control of private application access, said on Tuesday it raised $17 million in early stage funding.

The initial investment came from Cyberstarts, a venture capital firm backed by founders from Sequoia Capital, Palo Alto Networks, Check Point Software and Imperva. Ten Eleven Ventures led the Series A round in which Cyberstarts was the first investor.

The company said its cloud-based technology can overcome the problems associated with virtual private networks, which can be slow to deploy and hard to manage.

Headquartered in California, the company has research and development in Tel Aviv.

Reporting by Tova Cohen; Editing by Steven Scheer

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