Funding Comes at Critical Time as Eclypsium moves to Secure AI-Compute Hardware and Devices Against Rising Nation State-Sponsored Supply Chain Attacks
Eclypsium, a leader in infrastructure supply chain security, today announced it has raised $45 million through a combination of equity and debt in an oversubscribed Series C financing round with Qualcomm Ventures, Pavilion Capital, Singtel Innov8, and Sixty Degree Capital. The new investors are joined by prior lead investors Ten Eleven Ventures, Andreessen Horowitz and Madrona. This round brings the company’s total equity funding to $85 million.
Eclypsium has established itself as an industry authority on protecting commercial and federal critical infrastructure against sophisticated threat actors, including those backed by nation-states. The recent rise in cybercrime stemming from geopolitical ‘hot spots’ has ushered in a heightened awareness of security breaches targeting devices – down to the component level – in every organization’s supply chain. As enterprises and national infrastructure increase their reliance on AI compute hardware and AI-enabled devices, which Gartner estimates will grow to $500 billion in spend on AI servers by 2025, securing the supply chain is becoming more critical than ever.
“As AI processing increasingly shifts towards edge devices, ensuring the security of these systems and the underlying infrastructure is of paramount importance. We believe Eclypsium, with its technology leadership and customer traction, is well positioned to help enterprises protect the digital supply chain,” said Tushar Gupta, Senior Director, Qualcomm Technologies, Inc., and Managing Director of North America, Qualcomm Ventures. “Leveraging our leadership in AI at the edge, we’re thrilled to invest in Eclypsium to drive secure and intelligent computing across consumer and enterprise use cases.”
Expanding to Address New Markets and Emerging Threats to Gen AI Infrastructure
Building on significant traction and growing demand from leading cloud providers and GPU cloud vendors, Eclypsium will use the new funding to scale operations in critical GenAI hardware and smart connected devices that remain unaddressed today. Eclypsium plans to continue investing heavily in the North America commercial and federal markets, as well as the APAC region. The company is also working with emerging regions that have been recently targeted by nation state and ransomware threat actors. As the global authority on supply chain security, the company will also expand its world-renowned supply chain research lab to help industry partners and customers perform device security assurance and certification.
“The Cybersecurity and Infrastructure Security Agency (CISA) is urging security and IT leaders to mitigate critical vulnerabilities in infrastructure devices exploited by nation-state threat actors like Salt Typhoon, Volt Typhoon and ransomware groups,” said Yuriy Bulygin, CEO and Co-Founder of Eclypsium. “There is an urgent need to protect each organization’s foundational infrastructure from these threats. This funding will solidify our position as the market leader and fortify our commitment to delivering the most comprehensive platform to secure critical hardware, firmware and software within every customer’s supply chain.”
