Firmware and hardware security company Eclypsium announced on Tuesday that it has raised $25 million in a Series B funding round, which brings the total invested in the firm to $50 million.

The funding was led by Ten Eleven Ventures, with participation from Global Brain’s KDDI Open Innovation Fund (KOIF), J-Ventures, Andreessen Horowitz, Madrona Venture Group, Alumni Ventures, AV8 Ventures, Intel Capital, Mindset Ventures, Oregon Venture Fund (OVF), Translink Capital, and Ubiquity Ventures.

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. The company’s researchers have identified vulnerabilities affecting many devices.

Eclypsium has developed a SaaS platform that can help enterprises secure and protect their endpoints, network equipment, servers and connected devices.

The company claims its annual recurring revenue and customer base have increased significantly over the past years.

“Eclypsium solves a critical and often overlooked dimension of the cybersecurity puzzle - ensuring every device is continuously protected against supply chain risk,” said Alex Doll of Ten Eleven Ventures, who has joined Eclypsium’s board.

“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,” Doll added.

By Eduard Kovacs on Tue, 04 Oct 2022 14:04:49 +0000
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