Security News > 2020 > October >

Eclypsium will use the new funding to scale the company, expanding sales, delivery, and R&D. Having grown annual recurring revenue over 2000% since its Series A funding, Eclypsium will continue expanding the capabilities of its device security platform to meet increased market demand.

The sharp increase in the number of breaches and ransomware attacks through insecure device firmware has brought to light that most organizations cannot easily see which vulnerable devices they have in their environment or determine which devices have already been compromised.

"The ongoing and material shift to remote work has brought new risks from remote and BYOD devices and remote access infrastructure. Traditional software security solutions don't provide visibility into the firmware risks these devices bring to an organization," said Yuriy Bulygin, CEO of Eclypsium.

"Eclypsium has built the platform and approach to provide organizations with the most complete defense for enterprise devices and the hardware supply chain. Our goal is to help entrepreneurs reach customers and develop strategic partnerships in Asia. We are thrilled to help enterprises in the region benefit from the visibility and control over their device risks that Eclypsium brings."

Baris Aksoy, General Partner at AV8 Ventures, said, "Eclypsium's ability to address security risks from a myriad of devices every organization uses - starting with the supply chain and extending to monitoring devices in the enterprise infrastructure - positions them to be an integral part of any enterprise cybersecurity suite. We are excited to play a part in their growth."

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