December 15, 2023 at 03:03PM
Xeol, a New York City-based cybersecurity company, raised $3.2 million in Seed funding led by Shield Capital. With a focus on securing software supply chains, Xeol emphasizes foundational standards like Software Bill of Materials (SBOM) and Supply-chain Levels for Software Artifacts (SLSA). The company has already signed its first Fortune 500 customer and aims to enhance software protection.
Key takeaways from the meeting notes:
– Xeol, a cybersecurity company based in New York City, raised $3.2 million in Seed funding led by Shield Capital, with Y Combinator and 468 Capital also participating.
– Cyber attacks against private enterprises’ software supply chains have multiplied sevenfold over the past 3 years, emphasizing the need for securing software supply chains.
– Xeol’s focus is on securing software throughout its lifecycle, starting at the code repository all the way through delivery to customers. They emphasize the need for maintaining end-of-life software, as highlighted by the upcoming PCI 4.0 security standard.
– Xeol has already signed its first Fortune 500 customer and was able to identify over 2,000 end-of-life software components for this customer, reducing their exposure by 60%.
– Partner at SHIELD, Mike Brown, highlighted the importance of protecting the software that is part of the national critical infrastructure.
Additional information includes Xeol’s CEO, ShiHan Wan’s statement about coming out of stealth mode to tackle the software supply chain problem and the use of foundational standards like Software Bill of Materials (SBOM) and Supply-chain Levels for Software Artifacts (SLSA). Xeol aims to go deeper and be more accurate in identifying supply chain risks such as outdated software.