Twingate secures $42 million from BOND

THE TOWN OF REDWOOD — Twingate, a cybersecurity company implementing Zero Trust security, secured $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 new funding, Twingate plans to rapidly expand its operations to meet the growing demand for easy-to-use security solutions. Twingate has seen explosive growth since its launch in 2020, thanks to the signing of clients such as Bitpanda, Blend, Bloomreach, Cameo, Hippo and KeepTruckin. The company will use these funds to continue to grow its product and engineering teams, scale services and customer-facing support teams, launch operations in Europe and Asia Pacificand introduce a partnership program to work with IT and security service providers.

“We launched Twingate around the start of the pandemic, and we’ve seen massive interest in Zero Trust security as businesses adapt to the new demands created by distributed working. Our mission is to enable any business to begin the transition to a Zero Trust security model without massive IT and security budgets, said Tony Hue, CEO and co-founder of Twingate. “This Series B financing will allow us to aggressively expand our business to meet increased demand. We are delighted to welcome BOND’s Jay Simons to a group of seasoned investors who have scaled some of the most successful software companies 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 adopt. It’s rare to find an enterprise security solution provider with both deep technical expertise and a user-friendly product designed for modern users. I look forward to working alongside the Twingate team to advance the adoption of Zero Trust in businesses around the world.

The massive increase in data breaches over the past decade proves that old security models that rely on passwords and VPNs are in dire need of an update. With the move to the cloud, the growing use of SaaS applications, the proliferation of mobile devices, and more recently the shift to distributed work by default driven by COVID-19, businesses of all sizes will migrate to a Zero Trust security model. over the next 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 it has always been considered too cumbersome for most organizations to implement. With Twingate, businesses can easily begin the journey to 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 security to the services they need without added friction. Twingate’s solution can be deployed in 15 minutes and eliminates the need for legacy technologies such as VPNs, while dramatically improving security, productivity and manageability. With the announcement of a generous free tier, any business, regardless of size or budget, can get started with Twingate today.

“It’s clear that Tony and his 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 transparent to employees, and we’re excited to be able to continue. the journey with Tony and his team as they scale the business to meet the security needs of organizations around the world.

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