Teleport Raises $110M in Series C Funding at $1.1 Billion Valuation


Teleport, an Oakland, CA-based provider of an Identity-based Infrastructure Access Management platform, raised $110M in Series C funding at $1.1 billion valuation.

The round, which brings total funding raised to $169m, was led by Bessemer Venture Partners with participation from Insight Partners and Kleiner Perkins and S28 Capital. As a part of the investment, Bessemer Venture Partners’ Mary D’Onofrio will take a seat on Teleport’s board, and Insight Partners’ Matt Koran will be a board observer.

The company intends to use the funds to expand its go-to-market and R&D teams.

Led by CEO Ev Kontsevoy, Teleport provides an Identity-based Infrastructure Access Management solution, which consolidates the four essential infrastructure access capabilities every security-conscious organization needs: connectivity, authentication, authorization, and audit. By providing a cloud-native, identity-based infrastructure access solution for humans and machines, the company eliminates network perimeter security issues, reduces attack surface area, cuts operational overhead, enforces security & compliance, and improves developer productivity, all at once.

The company recently announced Teleport 9, the latest edition of the open-source Teleport Access Plane. This release introduced Teleport Machine ID which delivers identity-based access and audit capabilities for resources including servers and databases, CI/CD automation, service accounts and custom code in applications such as microservices. Teleport 9 also included Teleport Connect, a secure, developer-friendly browser for cloud infrastructure. The browser solves the issues posed by terminals optimized for local environments when a majority of development now happens in the cloud.

Customers including Doordash, Elastic, Nasdaq, Snowflake and others use Teleport to secure digital infrastructure access for remote and hybrid workforces and combat the ever-increasing cyber threats.

The funding comes after the company nearly tripled its revenue and doubled its customer base from 2020 to 2021.