Teleport raises $110M to help engineers access infrastructure remotely
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Teleport, a company behind an identity-based infrastructure access management platform for software engineers, has raised $110 million in a series C round of funding.
While remote work and a more distributed workforce has been one of the most notable effects of the global pandemic, this has meant a greater need for tools and technologies to help people work collaboratively from disparate locations.
However, even before the remote work revolution of the past couple of years, the burgeoning cloud computing movement meant that there was already a growing demand from certain quarters for ways to access critical systems without being physically present where the actual programs are running from — and that, essentially, is what Teleport does.
Founded in 2015, Teleport provides companies with easy, secure access to their critical infrastructure through connectivity, authentication, authorization, and audit — in short, making sure the right people can access the right systems at the right time, from anywhere.
“Most computer programs run in data centers, but engineers work from offices or homes,” Teleport CEO Ev Kontsevoy told VentureBeat. “They have to use remote access solutions to access computing infrastructure — Teleport is the easiest and most secure way to do it.”
Teleport serves to supplant a host of third-part technologies with a unified product, spanning the likes of VPNs, secrets vaults, among other “legacy” access management toolings.
“Remote access should not be siloed — it must be consolidated, because having a single-source-of-truth not only improves security, but also lowers operational overhead and makes end-user experiences better,” Kontsevoy continued.
Teleport assigns identities to all the hardware, software, and “peopleware” that constitutes a company’s technology stack, eliminating the need for passwords or private keys. Used by major companies including Elastic, Snowflake, VMware, and DoorDash, Teleport is all about helping companies grow their infrastructure footprint without compromising on security.
“We want to eliminate the need for secrets when accessing infrastructure and replace them with identity,” Kontsevoy added. “Teleport removes the tension between security and productivity, so that companies can grow fast while also improving security and compliance.”
Teleport had previously raised around $59 million, and with its latest cash injection which values it at a cool $1.1 billion, the company is well-positioned to build on its recent growth which it said has seen its customer base almost double and revenue triple last year.
Teleport’s series C round was led by Bessemer Venture Partners, with participation from Kleiner Perkins, Insight Partners, and S28 Capital.
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