Elsewhere Partners Leads $22M Series A Financing of Portnox
Gunderson Dettmer represented client Elsewhere Partners as it led the $22 million Series A financing of Portnox, a cloud-native network and endpoint security solutions platform. The company’s security products eliminate the need for an on-premises footprint to enforce and maintain security policies. The new capital will be used to expand Portnox’s teams and accelerate global market penetration.
In the announcement of the transaction, co-founder and partner of Elsewhere Partners John Thornton said, “By listening to its customers and building on the early success of its on-premises solutions, Portnox anticipated the market need for an end-to-end cloud offering while other NAC players threw all their weight behind on-premises solutions that can’t meet mid-market needs or ignored the calls for more comprehensive cloud solutions. We are at the cusp of the next era of cyber security, with the promise of an incessant barrage of more sophisticated threats across a more diverse landscape of devices and ‘offices’ than ever before. Bringing award-winning NAC solutions to organizations of all sizes, there is vast market potential for Portnox as it explores untapped markets and expands into new geographies.”
The Gunderson deal team was led by Luke Thomas and included Mark Foster, Lily Kim, Ben Cukerbaum, Alex Devine, Sunny Kim, Muskan Mumtaz, and Miki Zaganjor.