Company plans to invest aggressively across
all parts of the business, including engineering, product and go to
market teams, to enable organizations of all sizes to easily
implement Zero Trust security
REDWOOD
CITY, Calif., April 14,
2022 /PRNewswire/ -- Twingate, the premier provider
enabling organizations to rapidly implement Zero Trust security,
today announced $42 million in Series
B funding. The round was led by BOND, with participation from
existing investors WndrCo, 8VC, and SignalFire. The latest
investment brings Twingate's total funding to $67 million.
With this additional funding, Twingate will rapidly scale its
operations to meet the growing demand for easy-to-use security
solutions. Twingate has seen explosive growth since launching in
2020, led by the signing of marquee customers such as Bitpanda,
Blend, Bloomreach, Cameo, Hippo, and KeepTruckin. The company will
use these funds to continue growing its product and engineering
teams, scale customer-facing services and support teams, launch
operations in Europe and
Asia-Pacific, and introduce a
partner program to work with IT and security providers.
"We launched Twingate near the beginning of the pandemic, and
we've seen massive interest in Zero Trust security as companies
adjust to the new demands created by distributed work. Our mission
is to enable any company to start the transition to a Zero Trust
security model without massive IT and security budgets," said
Tony Huie, CEO and Co-Founder of
Twingate. "This Series B financing will allow us to aggressively
expand our operations to meet heightened demand. We're thrilled to
welcome BOND's Jay Simons to a
seasoned investor group that has scaled some of the most successful
software businesses in the world."
"Twingate brings a contemporary approach to cybersecurity," said
Jay Simons, General Partner at BOND.
"Whether you have 10 or 10,000 employees, Twingate makes it easy
for security teams to implement solutions that end-users will
embrace. It's rare to find an enterprise security solution provider
with both deep technical expertise and a product with
consumer-grade usability designed for modern users. I'm looking
forward to working alongside the Twingate team to advance the
adoption of Zero Trust in enterprises worldwide."
The massive rise in data breaches over the last decade proves
that legacy security models that are reliant on passwords and VPNs
are in dire need of updating. With the shift to the cloud,
increasing usage of SaaS applications, proliferation of mobile
devices, and more recently, the move to default distributed work
driven by COVID-19, companies of all sizes will be migrating to a
Zero Trust model of security over the coming decade to adapt to
these changes.
Twingate's mission is to make this transition to Zero Trust
security as easy as possible. Zero Trust security has long been the
consensus approach among IT and security professionals, but has
historically been viewed as too cumbersome for most organizations
to implement. With Twingate, companies can easily start on the
journey towards Zero Trust with a solution that seamlessly
integrates directly into their existing technology stack to bring
together identity, device, and contextual information so users can
securely access the services they need without added
friction. Twingate's solution can be deployed in 15 minutes
and eliminates the need for legacy technology like VPNs, while
bringing significantly improved security, productivity, and ease of
management. With the announcement of a generous free tier, any
company, regardless of size or budget, can get started with
Twingate today.
"It is clear Tony and team have recognized a significant market
need," said Sujay Jaswa, Co-Founder
and Managing Partner of WndrCo. "The company's rapid growth in just
over a year since launch proves that businesses of all sizes are
hungry for security solutions that are easy to implement and
seamless for employees, and we are ecstatic to be able to continue
the journey with Tony and team as they scale the company to meet
the security needs of organizations all over the world."
About Twingate
With Twingate, companies can easily start on the journey towards
Zero Trust by seamlessly bringing together identity, device, and
contextual information to manage access to anything employees need
to work. Twingate easily integrates with existing SSO, MDM, EDR,
and network security products to make it easy to adopt Zero Trust
security concepts and can be deployed in 15 minutes or less. The
team includes veterans of Dropbox and Microsoft and is backed by
leading investors including WndrCo, 8VC, BOND, SignalFire, Green
Bay Ventures, and Dropbox founders Drew
Houston and Arash
Ferdowsi.
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SOURCE Twingate Inc.