Network security startup Portnox revealed today that it has raised $37.5 million in new funding to accelerate product innovation, expand market reach, and empower resource-constrained security teams with accessible, enterprise-grade zero-trust security.

Portnox specializes in cloud-native zero-trust access control solutions designed to help organizations secure their networks, applications and infrastructure. The company’s platform eliminates the need for on-premises hardware by allowing IT teams to implement robust security measures with ease and scalability.

The company’s core offering is its Network Access Control solution, which provides visibility and control over all devices connecting to an organization’s network. The cloud-native solution ensures that only authorized and compliant devices can access network resources and, in doing so, enhances security and reduces the risk of unauthorized access.

Portnox also offers Conditional Access for Applications, a solution that extends zero-trust principles to both on-premises and software-as-a-service applications with passwordless authentication and continuous risk assessment that makes sure that only trusted users and devices can access sensitive applications. Another solution, cloud-native RADIUS authentication services, allows organizations to implement secure network authentication across wired and wireless access layers.

For managing administrative access to network devices, Portnox offers a TACACS+ solution. The cloud-based service provides authentication, authorization, and accounting capabilities that allow organizations to enforce granular access policies and maintain detailed audit logs for their networking infrastructure.

Portnox has nearly 1,000 global customers and has seen strong growth and retention rates. Notable customers include Dr. Martens plc, Enova International Inc., Ford Foundation, ScienceLogic Inc., Talend S.A. and Tishman Speyer Properties LP.

Updata Partners led the Series B round, with Elsewhere Partners also participating. As part of the deal, Jon Seeber, general partner and co-manager of Updata Partners, is joining the Portnox Board of Directors.

“We see a massive opportunity in the shift to cloud-native security, and Portnox stands out with a uniquely unified approach to access control that’s both powerful and easy to adopt,” said Seeber. “The company’s leadership team has a deep understanding of the market and a clear track record of execution.”

Including the new funding, Portnox has raised $59.5 million to date, including a round of $22 million in January 2022.

Image: Portnox