November 4, 2023 at 12:30PM
Silicon Valley startup Xage Security has raised $20 million in new funding to expand its zero trust security technology beyond traditional IT environments. The company’s investors, including Piva Capital and Chevron Technology Ventures, participated in the financing. Xage also secured a strategic partnership with Science Applications International Corporation (SAIC) to expand into critical infrastructure and distributed operations. The funding will be used for R&D investments and to expand Xage’s go-to-market operations in new markets. Xage recently secured a $17 million contract with the United States Space Force for zero trust access control and data protection.
Xage Security, a Silicon Valley startup, has recently secured $20 million in new funding. The company’s existing investors, including Piva Capital, March Capital, SCF Partners, Overture Climate Fund, Valor Equity Partners, and Chevron Technology Ventures, provided the financing. Additionally, Science Applications International Corporation (SAIC) has taken an equity position and will be a strategic partner for Xage’s expansion into critical infrastructure and distributed operations.
Xage aims to help organizations adopt zero trust security principles and has raised a total of around $80 million since its launch in 2017. The company’s technology includes identity-based access management, zero trust remote access, zero trust data exchange, and the Xage Fabric Platform, which integrates these solutions to protect against attacks across various environments.
The new funding will be used for further research and development and to expand Xage’s go-to-market operations in new markets. This funding comes after Xage secured a $17 million contract with the United States Space Force to offer zero trust access control and data protection for ground and space architectures.