We are pleased to announce a $37.5 million investment in Portnox, a leading cybersecurity company based in Austin, Texas. Portnox offers a cloud-based Zero Trust Unified Access Control platform that enables network and security managers to control and secure access to corporate networks, applications, and data—determining who (users) and what (devices) can connect under specific conditions.
First-generation Network Access Control solutions were costly, complex, and confined to on-premise deployments, making them suitable mainly for large enterprises. However, with the rise of IoT devices, remote work, distributed teams, and increasing cyber threats, secure network access has become a critical concern for organizations of all sizes. Portnox addresses this challenge with a cloud-native Zero Trust Unified Access Control platform that combines authentication, policy enforcement, risk monitoring and remediation, and compliance into a single, scalable, and easy-to-implement solution—significantly reducing total cost of ownership and making it accessible to enterprises of all sizes.
Portnox’s capital-efficient growth and impressive unit economics align with the characteristics Updata looks for in investment opportunities. The Company has demonstrated robust, consistent growth in its cloud platform, significantly increased annual contract value, and maintained strong customer retention. The Company was recognized by CyberSecurity Breakthrough as the Policy Management Solution Provider of the Year in 2024—a reflection of its leadership in delivering modern access control for distributed environments. We’re excited to support Portnox’s go-to-market strategy and continued product innovation as it captures market share and ushers in a new generation of access control.
Jon Seeber, General Partner at Updata, will join Portnox’s board of directors.
The Company’s press release can be found here.