Xage, the zero trust security company, recently announced a $30M Series B, accelerating its efforts to make zero trust the dominant security strategy for real-world operations.
Piva, a San Francisco-based venture capital firm investing in visionary entrepreneurs solving critical industrial challenges with breakthrough technology, is leading the round. The latest round brings total Xage funding to $54 million raised to date.
Until recently, the security solutions serving real world operations have been focused on visibility and threat detection. But following hacks on the Colonial Pipeline, JBS, Kaseya, Brenntag, Copel, Toshiba, Oldsmar, and dozens of others, as well as a slew of federal regulations, a new wave of operational cybersecurity is emerging—the zero trust wave focused not only on network visibility and threat detection, but also on blocking hackers and preventing them from gaining hold.
The impact of the Xage Fabric can be transformative. For instance, Xage helps the US Air Force enable secure data sharing, allowing maintenance teams to digitize manual processes and drive efficiency. Xage has partnered with renewable energy companies to ensure secure access to data, allowing them to predict the most efficient energy mix. Xage also helps utilities confidently leverage machine learning to optimize grid balancing, which drives down costs and energy consumption.
In just the past few months, Xage has significantly accelerated the adoption of zero trust for critical real-world operations. Xage has delivered more deployments in Q4 2021 than in the entirety of 2020. Further, partners such as 1898 & Co, a part of Burns & McDonnell, and Iron Bow were drawn to Xage in 2021 to help their own customers digitize securely. Xage’s 2021 partner count has increased 500% over 2020, and partner revenue increased more than 1000%.
Duncan Greatwood, CEO of Xage
A zero trust security strategy—the modern alternative to perimeter-based security—is known to be the most effective approach to stopping hacking attempts at the source; it could have prevented the ransomware attacks we saw on the Colonial Pipeline, JBS, and hundreds of other hacks this year.
Mark Gudiksen, Managing Partner at Piva Capital
Xage has proven that it can bring a zero trust approach to these sectors and help customers not just sidestep devastating attacks, but digitize operations while remaining secure. As a new member of the Xage board, I’m eager to help deepen the company’s footprint in the industrial sector and beyond. We’ve only just begun to witness the impact of Xage’s technology.
