Portland, OR, October 4, 2022 — Eclypsium® immediately introduced it has raised $25 million in Sequence B financing led by Ten Eleven Ventures, the unique cybersecurity-focused, international, stage-agnostic funding agency. World Mind’s KDDI Open Innovation Fund (KOIF) and J-Ventures are additionally collaborating traders within the spherical. New traders are joined within the spherical by prior lead traders Andreessen Horowitz and Madrona Enterprise Group, and present traders Alumni Ventures, AV8 Ventures, Intel Capital, Mindset Ventures, Oregon Enterprise Fund (OVF), Translink Capital and Ubiquity Ventures. This brings the corporate’s whole funding to $50 million. Eclypsium additionally welcomes Alex Doll, Ten Eleven’s co-founder, to its Board of Administrators.
Eclypsium will use the Sequence B capital to develop its product capabilities to assist its enterprise and public sector clients safe and guarantee integrity of {hardware}, firmware and the software program provide chain, additional speed up enterprise and Federal gross sales momentum, and proceed to foster its management in provide chain safety analysis.
Latest stories point out that 80% of organizations skilled a cyberattack on account of vulnerabilities of their provide chain. Provide chain assaults have been up greater than 100% year-over-year in 2021. Authorities companies globally are more and more issuing warnings and mandates such because the White Home OMB memorandum on enhancing provide chain safety. Machine software program and firmware has emerged because the main supply and accounts for nearly 1 / 4 of Identified Exploited Vulnerabilities printed by the Cybersecurity and Infrastructure Safety Company (CISA).
“Eclypsium solves a essential and sometimes ignored dimension of the cybersecurity puzzle – making certain each machine is constantly protected towards provide chain danger,” commented new lead investor Alex Doll of Ten Eleven Ventures. “Whereas machine safety was traditionally extra controllable by the unique machine producer, immediately’s advanced provide chain and reliance on third-party software program and componentry have exponentially expanded the assault floor. Eclypsium has entered the market on the excellent time to handle these complexities with its complete resolution. We’re proud to hitch the forward-looking traders already backing them of their necessary mission.”
Eclypsium additionally introduced the addition of Alex Doll to its Board of Administrators. As Co-Founder and Managing Basic Associate of cybersecurity speciality Ten Eleven Ventures and former Co-Founding father of PGP Corp. (acquired by Symantec), Mr. Doll brings a few years of expertise in main and rising cybersecurity corporations to assist information Eclypsium in its subsequent part of development.
Since Eclypsium’s Sequence A spherical, the corporate has elevated headcount by 5x, achieved 35x development in annual recurring income and expanded its buyer base by 13x. Along with these achievements, Eclypsium has additionally:
- Appointed a number of {industry} leaders to its govt staff throughout gross sales, engineering, advertising and marketing, and analysis
- Gained a number of prestigious awards together with the Gartner Cool Vendor, CNBC Upstart 100, and Quick Firm Most Revolutionary Safety Corporations awards
- Found industry-wide dangers within the provide chains of main gear producers throughout enterprise laptops, servers, PC firmware, and essential machine software program.
- Been added to CISA’s Steady Diagnostics and Mitigation as the one provide chain safety resolution for enterprise {hardware} and firmware.
“The complexity and dependency on international provide chains of essential {hardware} and software program has created a gorgeous and quickly rising taking part in area for menace actors, whose purpose is to attain most detrimental influence, throughout as many organizations without delay. As such, we’re seeing a shift in focus as organizations consider their protection approaches and transfer in direction of the zero belief precept in defending their gadgets and provide chains,” stated Yuriy Bulygin, CEO and Co-Founding father of Eclypsium. “We stay up for partnering with our new traders as we proceed to teach and equip organizations with the information and instruments to defend their machine fleets and provide chains. This funding will additional develop our footprint because the main supplier of a complete platform securing essential {hardware}, firmware and software program in organizations’ provide chains.”
ABOUT ECLYPSIUM
Eclypsium’s cloud-based platform offers digital provide chain safety for essential {hardware}, firmware and software program. Eclypsium defends enterprises and authorities companies from the deep implants and exploits which have grow to be the vector of alternative for contemporary adversaries. For extra info, go to eclypsium.com.
