VaultRoute Raises $12M Series A to Bring Zero-Trust Access to Mid-Market IT Teams

VaultRoute, a Sydney-based cybersecurity startup that makes zero-trust network access simple enough for small IT teams, has raised a $12 million Series A funding round led by Meridian Ventures Asia, with participation from Cobalt Peak Capital and existing investors.

Zero-Trust Access for the Mid-Market

Zero-trust tools have mostly been built for large enterprises with dedicated security staff. VaultRoute's platform lets a team of two or three IT administrators replace traditional VPNs with identity-based access in under a day, without rewriting network rules by hand.

“Mid-sized companies face the same threats as large ones, but they do not have the same headcount. Our goal is to give a three-person IT team the access controls a bank would expect.”

— Daniel Okafor, CEO and co-founder of VaultRoute

Growth and Use of Funds

The company has grown its customer base from 45 to 210 organizations in the past 12 months and says annual recurring revenue has tripled over the same period. VaultRoute will use the new funding to double its engineering team, add compliance reporting features, and open offices in Singapore and Kuala Lumpur.

“We were struck by how quickly customers get value. Deployment is measured in hours, not quarters, and that is rare in this market.”

— Mei Lin Chua, Partner at Meridian Ventures Asia

Funding Snapshot

• Round: $12 million Series A
• Lead investor: Meridian Ventures Asia; also participating: Cobalt Peak Capital and existing investors
• Customers: 210 organizations (up from 45 a year ago)
• Use of funds: Engineering, compliance features, regional expansion (Singapore and Kuala Lumpur)

Mei Lin Chua will join VaultRoute's board of directors as part of the round.