The Oakland-based Teleport, the leading provider of Identity-based Infrastructure Access Management, has recently announced its concluded Series C funding which netted $110M. This investment brings Teleport’s total funding raised to $169M at a current valuation of $1.1B, coming after the firm nearly tripled revenue and doubled the customer base in 2021 from the previous year. Another 2021 feature was Teleport’s $30M Series B round led by S28 Capital and Kleiner Perkins.
This latest offering will further fuel Teleport’s go-to-market organisation to serve its fast-growing, global customer base. Teleport will also bolster its R&D to solve the most complex security challenges faced by organisations of all sizes.
This funding round was led by Bessemer Venture Partners with participation from Insight Partners and existing investors Kleiner Perkins and S28 Capital. On top of investing, Bessemer Venture Partners’ Mary D’Onofrio will take a seat on Teleport’s board whereas Insight Partners’ Matt Koran will be a board observer.
Identity-based Infrastructure Access Management
Teleport has grown to become the leading provider of Identity-based Infrastructure Access Management solutions serving engineers enabling them to quickly access computing resources anywhere on the planet. The company’s open-source products provide the Access Plane for developers and security professionals seeking to simplify secure access to servers, Kubernetes, databases and web apps across all computing environments.
The company achieves this by consolidating the four essential infrastructure access capabilities required by every security-conscious organisation. These include connectivity, authentication, authorisation and audit. Teleport’s unique approach achieves not only more security but also improves developer productivity.
The demand for its solution is further justified by the need for organisations to deal with complexity because of shifts to the cloud, modernisation of IT stacks and growth of mixed infrastructure environments. By providing the only cloud-native, identity-based infrastructure access solution for people and machines, Teleport gets rid of network perimeter security issues, reduces attack surface area, enforces security & compliance, cuts operational overhead, and improves developer productivity, at a go.
“Now, more than ever, is the time to make it easy for any company to employ world-class security practices as global cyber-attacks become more and more sophisticated,” stated Mary D’Onofrio, partner at Bessemer Venture Partners, “With Teleport, security becomes stronger and simpler for both humans and machines, making it possible to deploy and enforce security and compliance best-practices throughout all organisations.”
Founded by Alexander Klizhentas, Ev Kontsevoy and Taylor Wakefield in 2015, the company has grown and now brags among its top tier client list, organisations like the NASDAQ, Doordash, Elastic and Snowflake, enabling them to secure digital infrastructure access for remote and hybrid workforces and combat the ever-increasing cyber threats.
“Speed is key to our business. But so is security,” remarked Luke Christopherson, a Software Engineer at Doordash testifying to Teleport’s utility. “The Teleport Access Plane allows our engineers to securely access the infrastructure they need to do their jobs without getting in the way of productivity. Everybody wins!”
Teleport recently launched Teleport 9, the latest edition of the open-source Teleport Access Plane. This release marks the introduction of the Teleport Machine ID which delivers identity-based access and audit capabilities for resources including servers and databases, CI/CD automation, service accounts and custom code in apps such as microservices. Teleport 9 also encompasses Teleport Connect, a secure, developer-friendly browser for cloud infrastructure. The browser solves the issues posed by terminals optimised for local environments when the majority of development happens on the cloud.