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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Portnox closed a $37.5 million Series B investment led by Updata Partners on April 8, 2025. The company said it will use the funding to develop its products, expand into markets, and make enterprise-grade zero-trust security more accessible to security teams with limited resources.
What Portnox announced
Portnox’s April 8, 2025 announcement said the company had closed a $37.5 million Series B, with Updata Partners leading the round. Updata general partner Jon Seeber joined Portnox’s board of directors, according to the announcements from Portnox and Updata Partners.
Portnox named product innovation, market expansion, and helping resource-constrained security teams adopt enterprise-grade zero-trust security as intended uses for the capital. The announcements do not disclose the company’s valuation, investor ownership, or other detailed financial terms.
What Portnox does
Portnox sells Portnox Cloud, which it describes as a cloud-native unified access-control platform. The company says the software combines passwordless authentication, authorization, risk mitigation, and compliance enforcement across enterprise networks, applications, and infrastructure. Its pitch is that organizations can manage access controls through a cloud-based service rather than relying only on traditional on-premises network access control (NAC).
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CEO Denny LeCompte described the move from on-premises NAC to cloud-native zero-trust solutions as a multi-billion-dollar market; that market-size figure is his estimate in Portnox’s announcement, not an independently established statistic. The funding announcement does not provide a comparative evaluation of Portnox against other access-control vendors.
Portnox’s reported scale and later product context
In its April 2025 announcement, Portnox reported nearly 1,000 global customers, a 95% customer retention rate, and a 4.6-star Gartner Peer Insights rating. The release did not specify the rating’s review count or how the retention rate was calculated, so these figures should be read as company-reported metrics.
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A July 21, 2026 company update described later growth and product changes; those details were not part of the 2025 funding announcement. Portnox reported more than one million devices under management, more than 40 million authentication sessions, over one million unauthorized access attempts blocked each day, and 52% year-over-year growth in second-quarter bookings. It also said it had expanded Portnox Cloud, added a captive portal for guest, visitor, and contractor access, and expanded zero-trust network access capabilities for RDP, SSH, VNC, and Telnet. The update announced PartnerEdge, a reseller program intended to help build cloud access-security practices. These operating figures and product descriptions are company-reported, not independently validated in the cited update.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How the Series B fits Portnox’s funding history
Portnox said the Series B followed a $22 million Series A led by Elsewhere Partners in 2022. The company put its total investment after the Series B at $59.5 million. SecurityWeek summarized the cumulative amount as $60 million, a rounded figure; the underlying company-reported total is $59.5 million.
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