Firmware and infrastructure supply chain security specialist Eclypsium has raised $45 million in equity and debt in an oversubscribed Series C round.
New investors Qualcomm Ventures, Pavilion Capital, Singtel Innov8, and Sixty Degree Capital were joined by prior lead investors Ten Eleven Ventures, Andreessen Horowitz and Madrona, Eclypsium said.
Eclypsium provides both an agent that maps firmware running on a networks’ devices including firewalls and VPNs and maps it to a library of known vulnerabilities and versions and intelligence on hardware security.
The company has built a strong foothold in both the federal government and financial services industries. When The Stack interviewed CEO Yuriy Bulygin in Eclypsium’s Portland offices in 2024, the firm had analysed over 11 million types of firmware (software embedded in a piece of hardware that makes it run), building out its coverage at a million more yearly.
See our interview with Eclypsium's CEO last year, below.
“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 Qualcomm Ventures’ Tushar Gupta.
It will use the new funding to deepen its work across generative AI hardware and smart connected devices that remain unaddressed today, invest “heavily” in the North America commercial and federal markets, as well as the APAC region and its expand its supply chain research lab to help partners and customers perform device security assurance.
“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 Bulygin in a canned statement.
"There is an urgent need to protect each organization’s foundational infrastructure… This funding will fortify our commitment to delivering the most comprehensive platform to secure critical hardware, firmware and software within every customer’s supply chain,” he added.
