Xage is a US-based start-up that uses various techniques of combination of compound technology to secure the critical infrastructure setup.
Xage, is a security start-up company that works to keep the infrastructure including oil and gas pipelines, electric grids and water supplies to run securely without any technical issue.
The company has announced a $30 million raise in the Series B funding.
Piva, which is a San Francisco based capital investment firm, lead the round. Companies including Valor Equity Partners, Momenta and OurCrowd participated in the round, along with the already existing investors City Light Capital, Saudi Aramco Energy Ventures, Saints Capital and March Capital. The start-up has mentioned that it raised an amount of $54 million till the present date.
Xage is a US-based start-up that uses various techniques of combination of compound technology to secure the critical infrastructure setup. The existing infrastructure of the industrial zone is old and depends on justly weak security. The modern top layer that comes on it is referred to as fabric, which Xage was designed for.
The CEO of the company, Duncan Greatwood mentioned that the fabric, which is the modern layer, is a combination of software nodules that overlay the operational granular control of every interaction made digitally. This formula gives a zero-trust protection that helps to span the operations, the cloud and the IT as well, supporting digital and cybersecurity transformation.
This formula gives a zero-trust protection that helps to span the operations, the cloud and the IT as well, supporting digital and cybersecurity transformation.
The solution uses a digital record technology which limits the effects of any attack and is organised in the form of nodes. This results in the safety of the entire network that stays unharmed even if one or two nodes get in control. Xage is not just jumping on the blockchain movement as the web3 is growing popular, but the company has been using the same technology to control gateway from the beginning.
The growing attacks in the cybersecurity system and the increase in the government regulations last year around critical infrastructure have led the companies to show more interest in a solution like Xage, that provides assistance. These factors, with an increase in the partner network, has helped for a big rise of the companiesâ€™ interest in Xage and that required the company to get more funds and increase the staff. The company, with the
efficient partners also needs staff to support the business and work.
At present, the company is working with more than 40 employees and the number is increasing with time. By the end of the year 2022, the CEO is expecting a team of over 90 more employees. Diversity and inclusion have been a priority for the company. Although it is easy for the company to find the right staff for business by looking at places like Stanford and MIT, they are looking for people with hidden talent.
The officials of the company appreciate the workers for their work and unity, they spend time talking about the work details and this process goes in the favour of the task-orientation that is followed for any work day. Also, the team tries to include everyone in the workforce and support them as they grow with Xage, said Duncan Greatwood.
The company is planning to take a great step for a greater approach in the year 2022, by keeping some of the team members in the office and the other partially or fully remote locations to expand the network, keeping in mind the required needs of the employees.
Also, the team tries to include everyone in the workforce and support them as they grow with Xage, said Duncan Greatwood.