PRESS RELEASE
December 12, 2023 (New York Metropolis, NY) – Xeol, the New York Metropolis-based cybersecurity firm, introduced immediately that it raised $3.2 million in Seed funding led by Defend Capital with Y Combinator and 468 Capital additionally taking part.
Cyber assaults in opposition to personal enterprises’ software program provide chains multiplied sevenfold over the previous 3 years. Software program provide chains have to be secured simply as industrial provide chains are secured from elements to meeting to supply. That is changing into much more urgent as open supply software program use and assault surfaces widen.
“Now could be the precise time to return out of stealth mode to sort out the software program provide chain drawback with foundational requirements like Software program Invoice of Supplies (SBOM) and Provide-chain Ranges for Software program Artifacts (SLSA) gaining traction,” said Xeol CEO, ShiHan Wan. “These requirements enable us to go a lot deeper and be way more correct with provide chain dangers like outdated software program”
Xeol’s focus is to safe software program all through its lifecycle starting on the code repository throughout supply to prospects. The crew begins by managing enterprises’ end-of-life software program whose publishers now not present safety patches. Attackers sometimes achieve entry to weak programs by phishing, then exploiting unpatched software program. PCI 4.0, a safety commonplace for dealing with cost card information, will mandate that corporations have a program to handle end-of-life software program, highlighting the rising menace floor.
Since launching the corporate 4 months in the past, Xeol has already signed its first Fortune 500 buyer. For this buyer, the crew was capable of determine greater than 2,000 end-of-life software program elements and cut back the corporate’s publicity by 60%.
“Xeol is constructing the subsequent technology of safety for the software program we depend on day-after-day to run our companies. This software program makes up part of our nationwide vital infrastructure and have to be protected,” mentioned Mike Brown, SHIELD associate and former Symantec CEO.
