Axiad Raises $25M in Equity Funding
Summary
Axiad, a Santa Clara, CA-based identity-first enabler of the zero-trust enterprise, raised $25m in funding. The company intends to use the funds to accelerate product development innovation, hire additional talent, bolster sales and marketing efforts, and aid in its journey to achieve Federal Risk and Authorization Management Program (FedRAMP®) Authority to Operate (ATO). Led by David Canellos, CEO, Axiad delivers identity-first authentication technologies that help organizations secure people, machines and applications. Customers in the federal government, finance and banking, healthcare, manufacturing and technology sectors optimize existing cybersecurity investments while navigating modern IT complexities like disparate identity and access (IAM) solutions, a mix of cloud, on-prem and hybrid infrastructures, and regulatory requirements like FedRAMP, CMMC and AAL3. Axiad Cloud combines multifactor authentication, cloud-based PKI and credential management utilizing x.509 certificates and FIDO passkeys, while supporting the widest range of credentials in the industry, including FIDO, mobile MFA, Windows Hello for Business, YubiKeys, smart cards, TPM and biometrics.