Portnox secures $37.5M to revolutionize zero trust security with unified access control

    April 8, 2025
    The investment by Updata Partners builds upon Portnox's $22 million Series A round of funding led by Elsewhere Partners in 2022.
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    Portnox, a provider of cloud-native, zero-trust access control solutions, today announced it has closed a $37.5 million Series B funding round. This investment, led by Updata Partners, will be used to accelerate product innovation, expand market reach, and further empower resource-constrained security teams with accessible, enterprise-grade zero trust security.

    "Companies are replacing on-premises Network Access Control (NAC) with cloud-native zero trust solutions, which we estimate to be a multi-billion-dollar market. I'm proud that Portnox is leading the charge with a best-of-breed Unified Access Control (UAC) platform," said Denny LeCompte, CEO of Portnox.

    Jon Seeber, General Partner and co-manager of Updata Partners, has joined the Portnox Board of Directors. Updata focuses its investments on B2B software and technology-driven businesses and has invested in over 75 software businesses and completed over 55 exits. Seeber has been a member of Updata's investment team since 2006. Before joining Updata, Seeber worked on the Business Development team inside IBM Global Services, managing acquisitions, divestitures, investments, and partnerships for IBM's largest business unit.

    "We see a massive opportunity in the shift to cloud-native security, and Portnox stands out with a uniquely unified approach to access control that's both powerful and easy to adopt. The company's leadership team has a deep understanding of the market and a clear track record of execution," said Seeber.

    Portnox delivers a unified access control platform—the Portnox Cloud—that brings together passwordless authentication, authorization, risk mitigation, and compliance enforcement for enterprise networks, applications, and infrastructure. Purpose-built for distributed organizations with complex IT environments, Portnox Cloud is 100% cloud-native and offers ease of use coupled with the robust security capabilities needed to protect against increasingly sophisticated attacks.

    The investment by Updata Partners builds upon Portnox's $22 million Series A round of funding led by Elsewhere Partners in 2022, bringing the total investment in the company to $59.5 million.

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