Xage Security | July 15, 2022
Xage, the zero trust cybersecurity company, today announced investment from Chevron Technology Ventures to further accelerate the use of zero trust in protecting energy and other critical infrastructure from cyber threats. The additional capital extends Xage’s series B venture capital financing for a second time in the last two months, bringing Xage’s total financing to-date to $62M.
“Xage’s zero trust security has the potential to expand corporate security standards to environments that increasingly are connected to one another. The technology can provide critical support to cybersecurity and digital transformation needs, This is the latest investment from our Core Energy Fund 7, which focuses on operational enhancement, digitalization and lower carbon technologies.”
-Jim Gable, Vice President, Innovation and President of Technology Ventures at Chevron.
Xage’s Fabric is specifically designed to bring a zero trust security model to complex environments without requiring an equipment overhaul. The Fabric overlays every machine, app, and data point within an operation to impose granular control over all digital interactions. In addition to the company's Identity & Access Management (IAM), Zero Trust Remote Access, and Dynamic Data Security solutions, Xage recently released a novel multi-layer, multi-factor authentication (MFA) capability designed specifically for real-world operations to block MFA hacks caused by “MFA bombing” and human error.
“With Chevron participating in our series B, we’re able to accelerate our impact on energy companies and other critical infrastructure organizations to prevent hacks while building efficiencies and enhancing collaboration, We recently found that 88% of industrial cybersecurity leaders are taking steps to adopt zero trust, and 55% are reporting that zero trust is accelerating digital transformation. It’s our job to make sure these efforts are expedited, and expanded support from investors with deep knowledge of the energy sector will help us achieve that.”
-Duncan Greatwood, CEO of Xage.
Chevron Technology Ventures joins a growing number of energy sector investors backing Xage. The venture arm of Saudi Aramco invested in Xage’s series A and B; and more recently, Piva Capital, a venture capital firm investing in technologies ushering in a new industrial era, led Xage’s series B, with SCF Partners and Overture Climate Fund joining the round in May.
Xage is the first and only zero trust real-world security company. The Xage Fabric accelerates and simplifies the way enterprises secure, manage and transform digital operations across OT, IT, and cloud. Xage solutions include Identity & Access Management (IAM), remote access, and dynamic data security, all powered by the Xage Fabric.
About Chevron Technology Ventures-
Chevron Technology Ventures (CTV) pursues technologies and new business solutions that have the potential to enhance the way Chevron delivers affordable, reliable, and ever-cleaner energy.
CISA | August 19, 2022
IronNet, Inc. (NYSE: IRNT), an innovative leader Transforming Cybersecurity Through Collective DefenseSM and member of the Joint Cyber Defense Collaborative (JCDC), today announced it has entered into an agreement with the Cybersecurity and Infrastructure Security Agency (CISA) to share information from IronNet’s Collective DefenseSM platform to help the agency defend against increased global cyber threats.
“IronNet is proud to collaborate with CISA to strengthen our nation’s cyber defense by deploying our market-leading Collective Defense platform that uses real-time attack intelligence to defend against global cyber attacks, IronNet anonymizes this threat-related information to exchange with CISA delivering true Collective Defense while also fostering enhanced public-private situational awareness and analytic collaboration.”
-General (Ret.) Keith Alexander, Co-CEO and Founder of IronNet.
With an increase of state-sponsored bad actors targeting various industries, it is more important than ever before that IronNet’s partnership with CISA help establish a collective and coordinated defense against global cyberattacks. By sharing cyber data and information, CISA can better respond against threats looking to disrupt our “digital” way of life.
The IronNet Collective Defense platform identifies anomalous behaviors that often go undetected by alternative solutions and then uniquely delivers actionable attack intelligence to all the other participants in the IronNet community. Our differentiated platform serves as an early warning system for all participating companies and organizations, strengthening network security through correlated alerts, automated triage, and extended hunt support.
About IronNet, Inc:
Founded in 2014 by GEN (Ret.) Keith Alexander, IronNet, Inc. (NYSE: IRNT) is a global cybersecurity leader that is transforming how organizations secure their networks by delivering the first-ever Collective Defense platform operating at scale. Employing a number of former NSA cybersecurity operators with offensive and defensive cyber experience, IronNet integrates deep tradecraft knowledge into its industry-leading products to solve the most challenging cyber problems facing the world today.
About the JCDC:
CISA established the JCDC in August 2021 to unify and lead integrated public-private sector cyber defense. This diverse team proactively gathers, analyzes, and shares actionable cyber risk information to enable synchronized, holistic cybersecurity planning, cyber defense, and response.
As the nation’s cyber defense agency, the Cybersecurity and Infrastructure Security Agency (CISA) leads the national effort to understand, manage, and reduce risk to the digital and physical infrastructure Americans rely on every hour of every day.
FedDev Ontario | August 10, 2022
Canvass Analytics Inc. ("Canvass AI"), a leader in industrial AI software, today announced the completion of its previously reported Series A financing with an extension of US $7.73 million, led by Yamaha Motors Ventures and a CDN $5.7 million (US $4.43 million) repayable loan from the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The Series A extension will fuel the company's mission to empower industrial workforces to drive impact across their operations with the power of Industrial AI.
"The completion of our Series A endorses our go-to-market strategy and the acceptance of our solution in market. Today, leading industrials and manufacturers are using our patented Canvass AI platform to solve challenges that have plagued their operations for decades. This, in turn, is providing a positive impact to their productivity, profitability, and sustainability goals, This additional financing places us in a solid position to achieve our growth plans and accelerate AI adoption in large and mid-cap industrial companies."
-Humera Malik, CEO of Canvass AI.
As previously announced, the FedDev loan will enable the company to expand its diverse and inclusive workforce in Ontario as the company accelerates its growth with industrial companies who are rapidly adopting and scaling AI across their operations.
"Our government believes that protecting our environment and fighting climate change is not only the right thing to do for the planet but also for our economy. The Government of Canada is proud to support tech companies like Canvass AI in the important work they are doing to reduce the environmental impact of major industries as we move toward net-zero emissions."
-Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario.
Canvass AI's laser focus on enabling industrial companies to achieve their performance goals faster with the power of AI is filling a gap in the market that industrial companies have been searching for. We are excited by Canvass AI's strategy to empower industrial engineers as the change makers of Industry 4.0 so that the industrials can extend their competitive advantage, reduce costs, and advance their sustainability initiatives, commented Anish Patel, COO and Managing Director of Yamaha Motor Ventures.
Canvass AI's customers span the oil and gas, chemical and petrochemical, metals and mining, and energy sectors, all of which contribute significantly to the global economy and will play key roles in combating climate change. The Canvass AI platform provides industrial engineers with easy-to-use AI solutions to apply and scale across their operations that address their operational challenges, without requiring coding or data science expertise. Today, leading companies use Canvass AI to reduce carbon emissions and waste, improve yields, optimize facility operations, improve asset reliability and integrity, and optimize energy consumption.
About Canvass AI:
Canvass AI is a leading industrial AI software provider that puts the power of AI in the hands of industrial workforces to solve day-to-day operational problems. Some of the world's largest companies use Canvass AI's patented Industrial AI Platform to reduce carbon emissions and waste, improve yields, and optimize facility operations. Backed by Alphabet and Yamaha Motor Ventures, the Company is recognized by CB Insights as one of the world's top 50 technology companies that is advancing manufacturing.
About FedDev Ontario:
For 13 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada's most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region.