The round was led by Storm Ventures with support from all existing investors including Cervin, Engineering Capital, and Sorenson Ventures. Individual investors Manoj Apte, Josh Leslie, and Robert Tinker also participated. To date, Airgap has raised a total of $18.6 million.
The company will use the funds to fuel customer growth and deliver ransomware safe enterprise for its customers.
Why We Invested
Cervin was among the first investors in Airgap Networks. We have long held a view that enterprise networks design paradigms have not changed for more than 20 years. While WLANs are now ubiquitous and speeds have dramatically increased, the underlying architecture has not changed. However, traffic flows, and network devices have completely changed. This has made the enterprise network vulnerable to cyber-attacks.
Airgap has developed a unique and innovative, agent-less technology that segments the network and makes it secure against a variety of threats. When we heard their product idea it became clear to us that we were looking at something transformative that would get rapid interest from Enterprise customers. We particularly like their agentless micro segmentation approach that is highly differentiated, ubiquitously applicable, and much easier to deploy and manage than competing solutions that use agents installed on servers and other compute devices.That, combined with the expertise of the founding team, made our investment in Airgap Networks an easy decision.
We look forward to what the future holds for the company and its dedicated team under the leadership of founder and CEO Ritesh Agrawal.