Xage Security – a real-world zero-trust cybersecurity company – recently announced it has raised $20 million in an additional funding round, bringing total funding to $80 million. Existing investors, including Piva Capital, March Capital, SCF Partners, Overture Climate Fund, Valor Equity Partners, Chevron Technology Ventures, and new investor Science Applications International Corporation, participated in the round.
SAIC and Xage also revealed a strategic collaboration (Xage Security and SAIC to Accelerate Zero Trust Adoption in Critical Infrastructure) to deliver zero trust security solutions to critical infrastructure and distributed operations, including Operational Technology (OT), Information Technology (IT), and cloud environments.
Following Xage’s Middle East expansion, the current global expansion efforts include increased coverage of the Asia Pacific region with the opening of Xage’s new Singapore office. And this physical presence supports an expanding APAC customer base for Xage that includes major infrastructure operators.
This investment comes on the heels of a $17 Million contract win awarded to Xage by the United States Space Force (USSF) Space Systems Command, as federal adoption of zero trust architectures is gathering speed. Per the contract, Xage is going to offer zero trust access control and data protection across current and next-generation ground and space architectures.
KEY QUOTES:
“Xage is tackling one of our nation’s most urgent challenges – to cyber harden digital systems and critical infrastructure while protecting them against increasingly advanced cyber threats. Xage and SAIC help accelerate the adoption of Zero Trust principles throughout the Federal Government, using Xage’s technology to protect digitally transforming enterprises from cyber-attacks.”
— Lauren Knausenberger, chief innovation officer at SAIC
“Growing demand for Xage technology is a clear indicator that organizations need a simple and effective means to safeguard complex operations. With these new funds, we are well-positioned to further accelerate our product innovation and global expansion and to protect our customers’ most important assets and resources.”
— Geoffrey Mattson, chief executive officer of Xage Security
“When infrastructure operators are forced to defend against escalating cyber threats, including those due to geopolitical tensions and foreign adversaries, Xage has a truly transformative impact on their ability to remain secure. As an investor in Xage, we have seen how imperative its technology is to safeguard against adversarial threats with its differentiated zero trust platform. We’re continuing our investment partnership with Xage as the company deepens its footprint within critical infrastructure sectors, including defense and space.”
— Mark Gudiksen, Managing Partner at Piva Capital
