YL Ventures sells stake in Axonius for $270m

YL Ventures has sold its stake in Axonius, a cybersecurity asset management company, for $270 million.

YL Ventures has sold its stake in Axonius, a cybersecurity asset management company, for $270 million. The buyers were ICONIQ Growth, Alkeon Capital, DTCP and Harmony Partners.


NEW YORK–(BUSINESS WIRE)–Axonius, the cybersecurity asset management leader, announced today that its seed investor, YL Ventures, has sold its stake in the company to late-stage, IPO-focused investors ICONIQ Growth, Alkeon Capital, DTCP, and Harmony Partners for $270 million. This news comes after Axonius recently announced a $100 million Series D funding round at a $1.2 billion valuation led by Stripes, a leading New York-based growth equity firm, with participation from existing investors Lightspeed, OpenView, Bessemer Venture Partners, and Vertex.

“We are incredibly proud to have been the earliest supporters of Axonius from an idea to its recent status as a cybersecurity unicorn,” said Yoav Leitersdorf, founder and managing partner at YL Ventures. “We fund and support brilliant Israeli cybersecurity entrepreneurs from seed to lead, and Axonius has certainly become the leader in the cybersecurity asset management category it created. This transaction is an incredible outcome for us and our investors. It represents the first return on our third $75M fund, established in 2017, and the largest return in the firm’s history. It allows us to remain focused on funding early-stage Israeli cybersecurity startups and continue supporting them all through the important milestones of their initial stages. We are excited to see prominent late-stage investors from Alkeon, ICONIQ, DTCP, and Harmony Partners take over from where we started, and are positive that they will help Axonius reach new heights!”

“The transition from early-stage to late-stage investors just makes sense as we drive toward IPO, and it allows each investor to focus on what they do best,” said Dean Sysman, co-founder and CEO of Axonius. “We appreciate the guidance and support the YL Ventures team has provided during the early stages of our company and we congratulate them on this successful journey.”

“Axonius has rapidly scaled to address a real problem: how enterprises can quickly and confidently understand all of the assets in their environments to address security concerns,” said Matt Jacobson, general partner, ICONIQ Growth. “We have been very impressed with how large, sophisticated customers have spoken about the simplicity and comprehensiveness of the Axonius platform and its emerging market leadership. The entire ICONIQ team and ecosystem are excited to work hands-on with Axonius to support their continued success.”

“The cybersecurity challenges related to asset management and visibility have quickly become a top priority for enterprise security teams and CISOs,” said Abhi Arun, managing partner at Alkeon. “Axonius is one of the fastest-growing cybersecurity companies in the market, and we’re excited to partner with them for years to come, as they pioneer a data driven approach to cybersecurity.”

About Axonius
Axonius is the cybersecurity asset management platform that gives organizations a comprehensive asset inventory, uncovers security solution coverage gaps, and automatically validates and enforces security policies. By seamlessly integrating with over 300 security and management solutions, Axonius is deployed in minutes, improving cyber hygiene immediately. Covering millions of devices at customers like The New York Times, Schneider Electric, AB InBev, Landmark Health, AppsFlyer, and many more, Axonius was named the Most Innovative Startup of 2019 at the prestigious RSAC Innovation Sandbox, was named to the CNBC 2019 Upstart 100 list, and was one of the 20 Rising Stars on the Forbes 2019 Cloud 100 list. For more information, visit Axonius.com.