Eclypsium Secures $45M Series C Funding Amidst Growing Concerns Over Supply Chain Security
Portland-based cybersecurity firm Eclypsium has secured $45 million in Series C funding, led by Ten Eleven Ventures, with participation from Singapore’s sovereign wealth fund, Pavillion Capital. This investment comes at a crucial time, as escalating nation-state-backed infrastructure attacks highlight the urgent need for comprehensive supply chain security solutions. Eclypsium’s platform addresses this need by offering a robust system for scanning hardware, firmware, and software components across IT infrastructures, identifying vulnerabilities, threats, and inventory discrepancies. This capability has resonated particularly with government agencies, leading to several significant contract wins for Eclypsium.
The recent spate of "Typhoon" attacks, attributed to state-sponsored actors, has exposed vulnerabilities in critical U.S. infrastructure, including telecommunications networks, military bases, and ports. These attacks, such as Salt Typhoon targeting major telecommunication providers and Volt Typhoon infiltrating military installations, underscore the growing sophistication and pervasiveness of these threats. The potential repercussions extend beyond immediate disruptions, affecting national security and economic stability. These attacks have spurred government agencies and lawmakers to scrutinize potential vulnerabilities in other critical sectors, including ports and the energy industry, further fueling the demand for advanced security solutions like those offered by Eclypsium.
Eclypsium’s platform offers a unique approach to supply chain security, born from the insights of its founder, Yuriy Bulygin, during his tenure at Intel. Bulygin recognized the emerging threat of attacks targeting hardware, firmware, and underlying components, a layer largely overlooked by traditional security tools focused on operating system-level vulnerabilities. This realization led to the founding of Eclypsium in 2017, with the mission of providing organizations with the ability to establish trust in their hardware and supply chain components. The company’s focus on this critical layer of infrastructure security has positioned it as a leader in a rapidly growing market segment.
The increasing complexity and customization of infrastructure components, particularly in network devices, security appliances, and AI infrastructure, pose significant security challenges. Traditional security approaches often fall short in addressing these complexities, leaving organizations vulnerable. Eclypsium’s research has highlighted vulnerabilities in network firewalls from major vendors like Palo Alto Networks, demonstrating that even established security solutions can have gaps in their defenses. This research, coupled with high-profile attacks like the SolarWinds incident, underscores the need for a more comprehensive and proactive approach to securing the entire supply chain.
The rise of AI further complicates the security landscape, adding another layer of complexity to an already challenging environment. Organizations are rapidly adopting AI infrastructure to meet growing demands, but securing these complex systems presents a significant hurdle. Ensuring the integrity and security of AI infrastructure requires a nuanced understanding of the hardware, firmware, and software components involved, as well as the ability to detect any unauthorized modifications or vulnerabilities. Eclypsium’s platform offers organizations a way to address these challenges, providing real-time visibility into the state of their AI infrastructure and enabling them to identify and mitigate potential threats.
Eclypsium’s timely focus on supply chain security, coupled with its innovative approach and growing recognition in the industry, has positioned the company for continued success. The $45 million Series C funding will enable Eclypsium to expand its reach and further develop its platform, meeting the increasing demand for robust security solutions in an increasingly interconnected and vulnerable world. As organizations grapple with the evolving threat landscape, including the rise of sophisticated nation-state attacks and the growing adoption of AI, Eclypsium’s focus on establishing trust in every endpoint, server, and network appliance offers a critical layer of defense in the ongoing battle against cyber threats. The company is poised to play a significant role in shaping the future of supply chain security, providing organizations with the tools they need to navigate the complex challenges of today’s interconnected world.
