Total amount raised
$59 Millions
Latest funding date
04/01/2022
Location
Twingate has successfully raised funds through multiple rounds, with the latest being a Series B round that closed on April 14, 2022. The company is backed by five investors, including WndrCo and SignalFire.
Keep reading to explore the intricacies of Twingate's fundraising journey and the investors backing this innovative platform.
What Is Twingate?
Twingate, founded in 2019, is headquartered in Redwood City, California. The company was established by Alex Marshall, Lior Rozner, and Tony Huie.
Specializing in Zero Trust Network Access (ZTNA), Twingate offers a modern alternative to traditional VPNs, focusing on secure remote access to private resources for businesses and their distributed workforces.
With a team of 101-250 employees, Twingate aims to improve security without compromising usability and maintainability, providing solutions that protect private applications, data, and environments both on-premise and in the cloud.
How Much Funding Has Twingate Raised?
- Series A
- Amount Raised: $17M
- Date: October 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth phase and development of Twingate's Zero Trust security solutions.
- Series B
- Amount Raised: $42M
- Date: April 2022
- Lead Investors: BOND
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations, grow product and engineering teams, enhance customer-facing services, and expand into Europe and Asia-Pacific.
Total Amount Raised: $59M. Current Valuation: Not publicly disclosed.
Key Investors
- BOND
- Details: BOND led Twingate's Series B funding round. The firm is known for investing in high-growth technology companies.
- Investment Focus Areas: Technology, software, high-growth potential companies.
- Notable Investments: Stripe, Canva, Revolut.
- WndrCo
- Details: WndrCo is an existing investor in Twingate, co-founded by Sujay Jaswa. The firm focuses on media and technology investments.
- Investment Focus Areas: Media, technology.
- Notable Investments: Quibi, Aura.
- 8VC
- Details: 8VC is a venture capital firm that participated in Twingate's Series B round. The firm invests in technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, software.
- Notable Investments: Palantir, Wish, Guardant Health.
- SignalFire
- Details: SignalFire is an existing investor in Twingate, known for its data-driven investment approach. The firm focuses on early-stage technology startups.
- Investment Focus Areas: Technology, AI, SaaS, cybersecurity.
- Notable Investments: Grammarly, Frame.io, Ro.
- Green Bay Ventures
- Details: Green Bay Ventures is a previous investor in Twingate. The firm invests in early-stage technology companies.
- Investment Focus Areas: Technology, early-stage companies.
- Notable Investments: Uber, Dropbox, SpaceX.
What's Next for Twingate?
As Twingate looks to the future, the opportunities are vast. The company is poised to capitalize on the growing demand for Zero Trust security solutions, particularly as remote work and cloud services become the norm. With plans to expand into Europe and Asia-Pacific, Twingate aims to serve organizations of all sizes, from small businesses to large enterprises.
Future fundraising opportunities seem promising, given the increasing need for robust security solutions. Twingate's recent $42 million Series B round, led by BOND, sets a strong foundation for further investment. As the company scales its operations and enhances its product offerings, additional funding rounds could be on the horizon.
However, challenges lie ahead. Competition in the Zero Trust security market is fierce, and Twingate must ensure seamless integration with existing IT infrastructures. Maintaining high-quality customer support while scaling rapidly will also be crucial. Despite these hurdles, Twingate's strategic plans and industry trends suggest a bright future for the company.
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