Banyan Security, a San Francisco, CA-based provider of Zero Trust Network Access (ZTNA) solutions, raised $30m in Series B financing.
The round, which brings total funding raised to date to $47m, was led by Third Point Ventures with participation from new investors SIG and Alter Venture Partners and current investors Shasta Ventures and Unusual Ventures.
The company intends to use the funds to enable further investments in sales and marketing and continued enhancements in product innovation, expand into new markets and territories. In conjunction with the funding, Curtis McKee, Partner at Third Point Ventures, will join Banyan Security’s Board of Directors.
Led by Jayanth Gummaraju, CEO, Banyan Security provides least-privileged access to corporate applications and IaaS resources in real-time, leveraging organizations’ existing enterprise identity and security tool investments. Built on a patented zero trust architecture, the solution transparently deploys in hybrid and multi-cloud environments, continuously enforcing access policies based on any combination of user, device, and application contexts. Banyan’s architecture leverages and integrates with existing IT and cloud investments while permitting incremental deployment that accelerates measurable progress on the zero trust journey. Additionally, with the recent availability of Team Edition, a no-cost version of the company’s Banyan Security Zero Trust Remote Access solution, organizations are provided with access to hosted applications, services, and infrastructure without the need for legacy VPNs, opening inbound firewall ports, or managing DNS changes.
FinSMEs
20/01/2022