Bessemer Venture Partners Leads $110M Series C Financing of Teleport
Gunderson Dettmer represented client Bessemer Venture Partners as it led the $110 million Series C financing of Teleport, a provider of identity-based infrastructure access management. The company consolidates four essential infrastructure access capabilities that every security-conscious organization requires: connectivity, authentication, authorization, and audit. The new capital brings Teleport’s valuation to $1.1 billion and will be used to expand the company’s go-to-market organization.
In the announcement of the transaction, Partner of Bessemer Mary D’Onofrio said, “Now, more than ever, is the time to make it easy for any company to employ world-class security practices as global cyber-attacks become more and more sophisticated. With Teleport, security becomes stronger *and* simpler for both humans and machines, making it possible to deploy and enforce security and compliance best practices throughout all organizations. We're excited to lead this round and I am looking forward to working closely with Ev and his team to offer elegant cybersecurity solutions to a growing customer base of household names."
The Gunderson deal team was led by Brian Patterson and included Shu Hu, Heidi Quach, and Erika Athens.