Banyan Security Raises $30M in B Series Financing

Banyan Security Raises 30M in Growth Financing to Support Increased Demand for Innovative Zero Trust Network Access Platform

Banyan Security is a San Francisco-based provider of Zero Trust Network Access solutions (ZTNA). It raised $30m in Series A financing.

Third Point Ventures led the round with new investors SIG, Alter Venture Partners, and current investors Shasta Ventures, Unusual Ventures, participating.

The funds will be used by the company to make further investments in marketing and sales, as well as to continue product innovation and expand into new markets. Curtis McKee (Partner at Third Point Ventures) will join Banyan Security’s Board of Directors in conjunction with the funding.

Jayanth Gummaraju is the CEO of Banyan Security. Banyan Security offers least-privileged access in real time to corporate applications and IaaS resource resources. It leverages organizations’ existing security and identity tools investments. The solution is transparently deployed in hybrid and multicloud environments using a zero trust architecture. It enforces access policies based upon any combination of device, user, and application contexts. Banyan’s architecture integrates with existing IT investments and allows incremental deployment, which accelerates the zero trust journey. Organizations can access hosted services and applications through Team Edition, which is a free version of Banyan Security Zero Trust Remote Access. This allows them to open inbound firewall ports and manage DNS changes without the need of legacy VPNs.

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