You know what’s hard to do in Portland? Build a venture scale company. Not because the talent isn’t here — it is — but more often than not, the funding isn’t. So when a Portland company raises $45 million one year and then another $25 million the next? That’s worth noting. Even if they keep a fairly low profile locally.
Because that’s exactly what Eclypsium has done with a strategic round led by PEAK6 Strategic Capital, with Ten Eleven Ventures and an undisclosed top-three US bank joining in. Existing investors Andreessen Horowitz, Madrona, and Qualcomm Ventures also participated.
“Eclypsium has achieved tremendous success since its Series C funding – advancing our platform to enterprise-wide hardware infrastructure coverage, significantly expanding our customer base in financial services, insurance, government, AI datacenters, energy and public safety sectors. As securing the hardware supply chain becomes a top global imperative for enterprises and government agencies, this strategic investment accelerates our mission to deliver the industry’s most comprehensive protection across every enterprise device,” said Yuriy Bulygin, CEO and Co-Founder of Eclypsium.
Total funding: +$110 million. And still pretty quiet.
As organizations accelerate the transition to AI applications, it becomes increasingly important to establish trust in the foundational hardware infrastructure, from GPU core compute infrastructure to intelligent edge devices. Building on the company’s growing foothold in the financial services and other critical infrastructure sectors, Eclypsium will use the new funds to expand its platform to cover a growing array of critical hardware and devices used by enterprises and agencies including continued NVIDIA-based GPU servers in AI data centers to network edge appliances and intelligent edge devices.
The new round is aimed at AI infrastructure — GPU servers, edge devices, all the hardware that’s powering the AI buildout. And all of it runs firmware that needs to be secured. With investors’ backing and a team that’s been growing in Portland, Eclypsium is making a pretty convincing case that you can build a serious cybersecurity company around these parts — just like Tripwire and iovation before them.
“Eclypsium is a trusted leader in safeguarding both public and private critical infrastructure against the world’s most sophisticated threat actors, including nation-states. With its proven technology and deep expertise in supply chain security for IT infrastructure, we believe the company is exceptionally well positioned to help organizations strengthen cyber resilience in the enterprise. We’re proud to partner with Eclypsium to accelerate its growth in financial services, AI infrastructure and beyond,” said PEAK6 Co-founder Jenny Just.
But here’s another part of the story that I find interesting. Yuriy and CTO Alex Bazhaniuk — both former Intel security researchers — moved the company into a new office on SW Taylor. Downtown. On purpose. Because they’re not a traditional cybersecurity company — they’re securing hardware and firmware, the stuff that sits underneath everything else. And Portland’s deep bench of semiconductor talent is exactly why their core research lives here.
As Yuriy told the Portland Business Journal, they’re location is a strategic move to help them attract both the Intel talent on the west side and the software talent on the east side. So they planted a flag in the middle.
For more, see GeekWire’s coverage. For subscribers, The Oregonian and Portland Business Journal both have deeper coverage.
For more information, visit Eclypsium.
More Oregon startup news
