XONA, a developer of a zero-trust user access platform for remote industrial operations, announced that it has raised $7.2M in a Series A funding round led by DataTribe Opportunities Fund with participation from TFX Capital and individual investors. The latest investment brings XONA’s total raised since inception to $9.4M.
How will the funding be used?
The US company will use the funds to fuel product innovation and expand its footprint by providing secure remote access to critical systems in energy, oil and gas, transportation, manufacturing, government, and other new markets.
“Being able to access operational technology and other critical systems at any time, and from anywhere is becoming a necessity. Hybrid work is convenient, cost-effective, and plays a role in recruitment and retention – but for critical infrastructure, it’s all that and way more,” says Bill Moore, founder, and CEO at XONA.
He adds, “There are countless reasons professionals running oil rigs in the middle of the ocean, manufacturing plants meeting high demand, water treatment facilities serving large populations, and other critical facilities need 24/7 access. But providing that access has traditionally been complex and fraught with security issues – that’s why we built XONA.”
The company has more than doubled its workforce over the last six months.
New board members
As a part of the funding round, Mike Janke, managing director at DataTribe Opportunities Fund has joined the company’s board of directors. In addition, Jeff Williams, former chief revenue officer at FireEye, has joined as an independent board member.
As new members of the XONA board of directors, Janke and Williams bring unique expertise to help the company through its next phase of growth.
In addition to co-founding DataTribe, Janke is a former member of the US Navy’s SEAL Team 6 and Executive Chairman and co-founder of Silent Circle, one of the world’s leading Global Secure Communications services.
“There is a tremendous need for frictionless user access with rigorous security for operational technology and critical infrastructure systems, and that need will increase exponentially in the coming years as the number and severity of attacks on our critical infrastructure systems increase,” says Mike Janke, Managing Director at DataTribe Opportunities Fund.
“XONA has demonstrated a powerful platform that stays one step ahead of today’s evolving threats by collapsing traditionally integrated enterprise IT components into a frictionless user access platform purpose-built for critical infrastructure,” he adds.
On the other hand, Williams joined Bain Capital Ventures in 2016 after six years at FireEye where he joined as the first sales leader and helped lead the company through IPO. He brings more than two decades of infrastructure software and security experience with a proven track record in helping early-stage enterprise software companies scale and grows into market leaders.
Frictionless user access platform
Founded by Bill Moore in 2017, XONA provides a simple and secure user access platform for operational technology.
The Annapolis-based company’s mission is to enable the organisation’s workforce of employees, contractors, consultants, vendors, and remote workers to be more productive and more secure while reducing operational costs.
The US company seamlessly and securely enables secure adaptive access to most critical systems and applications, reducing operational and cyber risks and increasing operational efficiency.
With integrated MFA (multi-factor authentication), user-to-asset access controls, user session analytics, and automatic video recording, XONA is a secure portal that connects the cyber-physical world and enables critical operations to happen from anywhere.