DENVER – Cybersecurity specialist SpiderOak raised $16.4 million in a Collection C funding spherical led by Empyrean Expertise Options, an area expertise platform affiliated with Madison Dearborn Companions, a Chicago-based personal fairness agency.
Technique Capital and OCA Ventures participated within the spherical.
“Right now, space-based property are mission important in all civil and army operations and quickly changing into mission essential for all nationwide and company infrastructure,” Charles Beams, SpiderOak government chairman, mentioned in an announcement. “The Area Drive and the area trade consensus is {that a} cyber-attack is the most certainly and most damaging risk to these property.”
SpiderOak has shortly raised its profile within the area sector by profitable U.S. Air Drive Small Enterprise Innovation Analysis contracts for OrbitSecure, an off-the-shelf product designed to reinforce satellite tv for pc and constellation cybersecurity.
“Area is a demanding atmosphere in some ways and SpiderOak’s confirmed zero-trust answer, utilizing its patented distributed ledger expertise, is effectively positioned to deal with these cyber threats head-on,” mentioned Beames, a former Protection Division principal director for area and intelligence methods.
With funding from the funding spherical, SpiderOak plans to finish on-orbit testing and acquire flight heritage for its second-generation area product, OrbitSecure 2.0.
As well as, SpiderOak is transferring its headquarters from Chicago to Reston, Virginia, and establishing an area cybersecurity laboratory. Within the new laboratory, SpiderOak will present for hardware-in-the-loop qualification testing.
“SpiderOak brings a wealth of trade expertise in cybersecurity options to nationwide safety, an space we’re already closely invested in,” Matt Norton, Madison Dearborn Companions managing director, mentioned in an announcement. “Their confirmed monitor report in creating industrial zero-trust expertise is backed by a considerable patent portfolio.”
SpiderOak CEO Dave Pearah, mentioned in an announcement that the corporate’s software program is “backwards suitable with legacy area methods, to permit present on orbit methods to take the step to a lot increased cybersecurity protections.”
