Eclypsium, a firmware and hardware security firm, has raised $25m in a Series B funding round headed by Ten Eleven Ventures.
Also taking part in the round were Global Brain’s KDDI Open Innovation Fund, Andreessen Horowitz, J-Ventures, Madrona Venture Group, Intel Capital, Mindset Ventures, Oregon Venture Fund, Translink Capital, AV8 Ventures, Alumni Ventures and Ubiquity Ventures.
Following this recent raise, the total amount of capital raised by Eclypsium since its founding has climbed to $50m.
According to Security Week, Eclypsium has developed a SaaS platform that can help enterprises secure and protect their endpoints, network equipment, severs and connected devices.
The firm claims its annual recurring revenue and customer base has increased ‘significantly’ over the past years.
Eclypsium said it will use the new capital to expand its product capabilities, to further accelerate sales momentum, and continue its supply chain security research.
Alex Doll – founder of Ten Eleven Ventures – said, “Eclypsium solves a critical and often overlooked dimension of the cybersecurity puzzle – ensuring every device is continuously protected against supply chain risk.
“While device security was historically more controllable by the original device manufacturer, today’s complex supply chain and reliance on third-party software and componentry have exponentially expanded the attack surface. Eclypsium has entered the market at the perfect time to address these complexities with its comprehensive solution.”
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