Teleport raises $110 million Series C at a $1.1 billion valuation Led by Bessemer Venture Partners with participation from New Investor Insight Partners

Teleport raises 0 million Series C at a .1 billion valuation Led by Bessemer Venture Partners with participation from New Investor Insight Partners

Funding follows dramatic revenue growth as identity-based access requirements soar

OAKLAND, Calif., May 3, 2022 /PRNewswire/ — teleportthe leading provider of identity-based infrastructure access management, announced today that it has raised $110 million in series C financing led by Bessemer Venture Partners with the participation of Insight Partners and existing investors smaller Perkins and S28 Capital. This investment brings teleportation total funding raised for $169 million at a current valuation of $1.1 billionand it comes after the company nearly tripled its revenue and doubled its customer base from 2020 to 2021.

Teleportation (PRNewsfoto/Teleportation)

Teleportation (PRNewsfoto/Teleportation)

As part of the investment, Mary D’Onofrio of Bessemer Venture Partners will take a seat on Teleport’s board, and Insight Partners matt quran will be a meeting observer. In August 2021, Teleport announced its $30 million B-series round led by S28 Capital and Kleiner-Perkins.

“The increasing complexity of modern cloud environments has led to a situation where managing secure access to infrastructure begins to fail, as evidenced by the increasing frequency and severity of breaches,” he said. Ev Kontsevoy, co-founder and CEO of Teleport. “Our customers are forward-thinking organizations that are scaling rapidly. They’ve realized that the right way to scale access is to consolidate across protocols and environments. Our platform, the open source Teleport Access Plane, addresses these challenges.” By giving every engineer, every piece of hardware, and every application an identity. With identity-based access to everyone and everything, more security threats are neutralized and the impact of breaches is dramatically reduced without impacting developer productivity.”

As organizations grapple with complexity due to shifts to the cloud, IT stack modernization, and the growth of mixed infrastructure environments, Teleport’s open source Access Plane technology consolidates the four essential capabilities that every security-conscious organization needs: connectivity, authentication, authorization and auditing. Providing the only cloud-native, identity-driven infrastructure access solution for humans and machines, Teleport eliminates network perimeter security concerns, reduces attack surface area, lowers operational overhead, strengthen security and compliance and improve developer productivity, all at the same time.

With this latest funding, Teleport will expand its go-to-market organization to serve its rapidly growing global customer base. Teleport will also strengthen its R&D organization to solve the most complex security challenges facing organizations of all sizes.

“Now, more than ever, is the time to make it easier for any business to employ world-class security practices as global cyberattacks become increasingly sophisticated,” he said. Maria D’Onofrio, partner and co-founder of the growth investment practice, Bessemer Venture Partners. “With Teleport, security becomes stronger *and* simpler for both humans and machines, making it possible to implement and enforce security and compliance best practices across organizations. We’re excited to lead this round.” And I look forward to working closely with Ev and his team to deliver elegant cybersecurity solutions to a growing customer base of household names.”

Clients including Doordash, Elastic, Nasdaq, Snowflake and others use Teleport to secure access to digital infrastructure for remote and hybrid workforces and combat growing cyber threats.

“Speed ​​is key to our business. But so is security,” he said. lucas christopherson, software engineer at Doordash. “The Teleport Access Plane allows our engineers to securely access the infrastructure they need to do their jobs without interfering with productivity. Everyone wins.”

Recently Announced Teleportation Teleport 9, the latest edition of the open source Teleport Access Plane. This release introduced Teleport Machine ID, which provides identity-based access and auditing capabilities for resources including servers and databases, CI/CD automation, service accounts, and custom code in applications such as microservices. Teleport 9 also included Teleport Connect, a secure and developer-friendly browser for cloud infrastructure. The browser solves the problems of local-optimized endpoints when most development is now done in the cloud.

steven dickensSenior Analyst, Futurum Research commented, “As digital transformation takes hold from the core to the edge, security becomes more critical. The Teleport team is focused on delivering cloud-native, identity-driven infrastructure access solutions for human and machines. Today’s announcement brings the company one step closer to its mission to eliminate the need for secrecy when accessing infrastructure and, as a result, offer simpler and stronger identity-based authentication.”

For more information on Teleport and today’s news, visit the company website either more recent Blog about financing.

About Teleport
Teleport, a leading provider of identity-based infrastructure access management, consolidates the four essential infrastructure access capabilities every security-conscious organization needs: connectivity, authentication, authorization and auditing. Teleport’s unique approach is not only more secure, but also improves developer productivity. Teleport is used by leading companies like Elastic, Snowflake, Doordash, and NASDAQ. The company is supported by Bessemer Venture Partners, Insight Partners, Kleiner-Perkinsand S28 Capital. Based in Oakland, Calif.the company embraces a remote work-first culture.

About Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay solid foundations to build and grow lasting companies. With more than 135 IPOs and 200 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their earliest days through every stage of growth. Bessemer’s global portfolio includes Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr and Toast and has $9 billion of capital under management. Bessemer has teams of investors and partners located in Tel AvivSilicon Valley, San Francisco, New York, London, Boston, beijing Y Bengaluru. Born of innovations in steel over a century ago, Bessemer’s history has given its partners the opportunity to celebrate and analyze their best investment decisions (see Memos) and also learn from their mistakes (see Anti-Portfolio).

Media Contact:
sarah lytle
Bateman Agency for Teleport
teleport@batemanagency.com

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SOURCE Teleportation

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