The goal is to grow channel sales to 10 percent of Twingate’s revenue this year, Huie said. The firm now plans to add more members to its channel team, though Huie wouldn’t give specific numbers.Ĭurrently, channel sales represent only 5 percent of Twingate’s total revenue, which the firm wouldn’t disclose.
The firm recently hired two employees who will be “dedicated 100 percent to the channel,” said Huie. So Twingate started working with MSPs and other channel players. “But what we also found is there’s a lot of folks in the channel who were really interested in our product.” “We said, ‘Anyone in the world, you can come to Twingate and just sign up and use it,’” Huie said. When Twingate began to officially make its Zero Trust network-access security product available in late 2020, the company initially employed an open, direct-sales approach to getting its product into the hands of users. … We think the channel is a fantastic community of players to work with.” “We think there’s a huge opportunity to work with channel members to help them solve the security problems of their clients. “We’re going to make a big investment to really build out our capabilities on the channel side,” he said. Twingate will use the money to continue growing its product and engineering teams and launch operations in Europe and Asia-Pacific.īut Twingate chief executive and co-founder Tony Huie, in an interview with CRN, said his firm will also use the latest funds to aggressively grow its channel partnerships, both in the U.S. The latest investment brings Twingate’s total funding to $67 million and raises the company’s value to $400 million, according to company officials.
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The Redwood City, Calif.-based Twingate, which was founded in 2019, announced earlier today that has raised $42 million in series B funding, with the round led by BOND Capital and with participation from existing investors WndrCo, 8VC, and SignalFire. Cybersecurity startup Twingate plans to spend a large chunk of its latest multimillion-dollar funding round to expand its global channel partnerships and boost sales of its Zero Trust security product that it hopes will one day eliminate the need for VPNs.
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