Zero-trust security startup Twingate raises $42M to scale up operations

Zero-trust security startup Twingate raises $42M to scale up operations

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Zero-trust security startup Twingate Inc. today announced it has raised $42 million in new funding to scale up its operations to meet the growing demand for easier-to-use security solutions.

BOND led the Series B round, with WndrCo, 8VC and SignalFire also participating. Including the new funding, Twingate has raised $67 million to date. Previous investors include Green Bay Ventures and Dropbox Inc. founders Drew Houston and Arash Ferdowsi.

Founded in 2019, Twingate offers a solution for securing remote access to an organization’s private applications, data and environments whether on-premise or in the cloud. Pitched as making life easier for information technology and security professionals, Twingate’s service integrates with existing single-sign-on, mobile device management and endpoint detection and response services and can be deployed in 15 minutes or less.

The company says the platform brings together identity, device and contextual information to manage access to anything employees need to work.

Twingate is seeking to address the massive rise in data breaches often due to legacy security models reliant on passwords and virtual private networks that are struggling to cope. Twingate argues that the shift to the cloud, increasing usage of software-as-a-service applications, the proliferation of mobile devices and the move to remote work driven by the COVID-19 pandemic present new challenges.

The company’s platform is designed to make the transition to zero-trust security, which assumes no person or device can be trusted and sets up security in a new way, as easy as possible to address modern security challenges. The solution eliminates the need for legacy technology such as VPNs while significantly improving security, productivity and ease of management.

Twingate has seen strong growth since becoming available in 2020. Notable customers include Bitpanda GmbH, Blend Labs Inc., Bloomreach Inc., Cameo, Hippo Holdings Inc. and KeepTruckin Inc., which rebranded this week as Motive.

“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,” Tony Huie, co-founder and chief executive of Twingate, said in a statement. “Our mission is to enable any company to start the transition to a zero-trust security model without massive IT and security budgets.”

Image: Twingate

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