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.”