PRESS RELEASE
December 12, 2023 (New York Metropolis, NY) – Xeol, the New York Metropolis-based cybersecurity firm, introduced at the moment that it raised $3.2 million in Seed funding led by Protect Capital with Y Combinator and 468 Capital additionally taking part.
Cyber assaults towards personal enterprises’ software program provide chains multiplied sevenfold over the previous 3 years. Software program provide chains should 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’s the proper time to return out of stealth mode to deal with 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 “These requirements enable us to go a lot deeper and be way more correct with provide chain dangers like outdated software program”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 all over supply to prospects. The group begins by managing enterprises’ end-of-life software program whose publishers now not present safety patches. Attackers usually achieve entry to susceptible methods by phishing, then exploiting unpatched software program. PCI 4.0, a safety customary for dealing with fee 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 group was in a position to establish greater than 2,000 end-of-life software program elements and cut back the corporate’s publicity by 60%.
“Xeol is constructing the subsequent era 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 important infrastructure and should be protected,” mentioned Mike Brown, SHIELD accomplice and former Symantec CEO.
