Portnox Closes $22 Million Series A
January 2022 by Marc Jacob
Portnox,a proven leader in cloud-native network and endpoint security solutions, announced the close of a $22 million Series A round of growth financing led by Elsewhere Partners. Under the leadership of recently appointed CEO Denny LeCompte, an accomplished technology veteran and Elsewhere Partners operating advisor, Portnox plans to use the capital to substantially expand its team and speed global market penetration with a focus on mid-market organizations after establishing its new global headquarters in Austin, Texas. The primary focus for the North American expansion will be building out the operations, sales, marketing and customer success teams.
“By listening to its customers and building on the early success of its on-premises solutions, Portnox anticipated the market need for an end-to-end cloud offering while other NAC players threw all their weight behind on-premises solutions that can’t meet mid-market needs or ignored the calls for more comprehensive cloud solutions,” noted John Thornton, Co-founder and Partner of Elsewhere Partners. “We are at the cusp of the next era of cyber security, with the promise of an incessant barrage of more sophisticated threats across a more diverse landscape of devices and ‘offices’ than ever before. Bringing award-winning NAC solutions to organizations of all sizes, there is vast market potential for Portnox as it explores untapped markets and expands into new geographies.”
Recognized by industry luminaries as delivering cutting-edge NAC, including the RSA 2021 Global InfoSec Awards, Portnox solutions have helped nearly 1,000 organizations around the globe navigate the ever-changing regulatory compliance and cybersecurity landscape. Its coveted cloud-native NAC platform allows users to quickly and effectively implement powerful network access control, as well as endpoint risk posture assessment and remediation policies that can be automatically enforced across many sites. As cloud-native software-as-a-service (SaaS), Portnox eliminates the need for time-consuming system maintenance such as patches and upgrades. With SOC 2 Type 2 certification, Portnox CLEAR offers out-of-the-box integrations with common network hardware and critical security tools (e.g., active directory, MFA, MDM, SIEM), and works seamlessly with most anti-virus and firewall providers.
“Our team was looking for a quick-to-deploy and easy-to-manage NAC solution delivered from the cloud. Most on-premises NAC solutions are complex and require dedicated engineers to operate and maintain, which is untenable for resource-light IT departments whose staff bear a diverse range of technical responsibility at any given time,” added Marcelo Lew, information security manager at the University of Denver. “Portnox’s powerful, yet easy-to-use cloud-native NAC solution delivers essential access control and endpoint security functionality. It was a breeze to deploy in contrast to legacy systems. As a SaaS product, we can seamlessly scale out the service as our infrastructure and operational needs evolve. It’s a game-changer.” Explore more customer use cases here.
Co-founder Ofer Amitai has transitioned to the role of CTO and has joined the newly formed Board of Directors. Amitai will lead and grow Portnox’s Israel-based engineering and international product teams. Co-founder Idan Kuperman will continue in his long standing role as head of customer experience for Portnox.
Before taking on his new role as CEO of Portnox, LeCompte helped scale companies such as AlienVault, NetIQ and SolarWinds in executive leadership roles. LeCompte will tap his vast experience leading product strategy for infrastructure and cyber security software solutions for the mid-market while evolving products and building teams to accelerate their market growth. Additionally, LeCompte will focus on optimizing Portnox’s operations to facilitate its global expansion, while also supporting the product team’s efforts to create cloud-native versions of other complex, on-premises network security tools in the years ahead.