Today we’re thrilled to announce our latest Series A investment in Axis Security and the company’s emergence from stealth. The incredibly talented team at Axis is redefining private application access for the modern enterprise, allowing users on any device to connect to private apps in minutes.

At Ten Eleven, we’ve watched closely as digital transformation has forced companies to re-architect their global IT infrastructure and restructure their security approaches accordingly. Private applications once hosted on-premise are now being migrated to the public cloud, and this has radically changed the security needs of the enterprise. Furthermore, to effectively do work from a variety of locations and on a variety of devices, users need a secure, simple way to access these private applications in the cloud and the data stored there. Traditional solutions, such as Virtual Private Networks previously used to access applications hosted in data centers, are inadequate and painful to use in today’s environment. New answers are needed to keep businesses, their employees, and third parties working seamlessly together.

Private applications once hosted on-premise are now being migrated to the public cloud, and this has radically changed the security needs of the enterprise.

Overall, it’s a trend that is driving some of the most cutting-edge innovation in security today. Previously, this theme was an important part of our decision to invest in Twistlock, a company that provides application-level security for containers and who was acquired in 2019 by Palo Alto Networks. Now, it’s a fundamental part of our decision to invest in Axis Security and the innovative new Axis Application Access Cloud solution the company has developed.

We strongly believe that the team at Axis has developed the right answer to this complex security challenge. The speed at which founders Dor Knafo and Gil Azrielant and their team were able to identify the problem, build the product, and find validation with Fortune 500 companies is quite remarkable. We believe this is a great testament not only to the magnitude of the problem but the sophistication and elegance of their technical solution. We’re also impressed by the team that they have built, including top engineering talent as well as senior sales and marketing talent who can take the platform quickly to market.

Digital transformation and the movement to the cloud has presented fundamental new challenges for security professionals. Dor, Gil, and the entire Axis team have developed a compelling solution, found impressive traction quickly, and exhibit the enthusiasm and endurance that is required to build a world-class security company. We’re thrilled to be part of their journey alongside co-investor Cyberstarts and look forward to supporting Axis in their next phase of growth.