December 12, 2023 (New York Metropolis, NY) – Xeol, the New York Metropolis-based cybersecurity firm, introduced in the present day that it raised $3.2 million in Seed funding led by Protect Capital with Y Combinator and 468 Capital additionally collaborating.
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 turning into much more urgent as open supply software program use and assault surfaces widen.
“Now could be the precise time to come back out of stealth mode to sort out the software program provide chain downside 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 “These requirements enable us to go a lot deeper and be far more correct with provide chain dangers like outdated software program”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 all over supply to clients. The crew begins by managing enterprises’ end-of-life software program whose publishers not present safety patches. Attackers usually acquire entry to susceptible techniques by phishing, then exploiting unpatched software program. PCI 4.0, a safety commonplace for dealing with cost card knowledge, will mandate that corporations have a program to handle end-of-life software program, highlighting the rising risk 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 in a position to determine greater than 2,000 end-of-life software program elements and cut back the corporate’s publicity by 60%.
“Xeol is constructing the following era of safety for the software program we depend on each day to run our companies. This software program makes up part of our nationwide essential infrastructure and have to be protected,” stated Mike Brown, SHIELD companion and former Symantec CEO.