Human beings are known for having a ton of valuable elements in their arsenal, but if we are being honest, there is nothing more valuable in it than our tendency to grow on a consistent basis. This tendency, in particular, has allowed us to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology gets to enjoy such a significant place in our lives is inspired by its unique skill-set, which guided us towards all those possibilities that we couldn’t have imagined otherwise. Nevertheless, if we look a little deeper, it becomes clear that the whole runner has also been predicated upon how we applied the stated skills in a practical environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. This revolution, as we discovered later, will go on to scale up the human experience from every conceivable direction, but even after achieving such a monumental feat, technology will somehow continue producing all the right goods. The same has turned more and more evident on the back of our recent progression, and a new funding should only make the trend a lot stronger moving forward.
Eclypsium, the enterprise device security company, has successfully secured over $25 million in Series B financing. Led by Ten Eleven Ventures, the round saw further participation coming from the likes of 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. According to certain reports, the company will use the newly-raised cash to expand its core product capabilities. This goal is intentioned to help Eclypsium’s enterprise and public sector customers in realizing integrity of hardware, firmware, and the overall software supply chain. Apart from it, the company plans to dedicate a chunk of the funds towards improving its sales efforts, while also increasing the employee count from 80 people to over 100 by the end of 2022.
“A few macro-level trends are driving demand for Eclypsium’s solution, and therefore made this the right time to raise funding to enable accelerated growth. The global supply chain is increasingly complex, which means that finished devices may have hardware and firmware components sourced from vendors around the world — all of whom add to the risk and complexity of securing a device,” said Yuriy Bulygin, co-founder of Eclypsium.
Founded in 2017, Eclypsium started out its journey with a goal of saving companies from the danger of relying on equipment manufacturers and more traditional endpoint security management tools. The company’s proprietary platform, in turn, has upheld that mission by allowing organizations to see and control fleets of devices as well as networking infrastructure without having to install client software. Eclypsium’s firmware orchestration capabilities double down on this new and secure dynamic by using the company’s technology to discover, analyze, and deploy firmware updates, which are published by device manufacturers, so to spot unexpected, and potentially malicious, software modules embedded in the hardware.
“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, co-founder and managing general partner of Ten Eleven Ventures. “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.”
Talk about the company’s clientele, Eclypsium is currently serving many Fortune 2000 companies. Beyond that, it has even working a number of U.S. federal government assignments.