Cybersecurity solution provider SpiderOak snares $16.4m

Cybersecurity solution provider SpiderOak snares $16.4m

Cybersecurity solution provider SpiderOak has collected $16.4m in its Series C funding round.

The investment was led by Empyrean Technology Solutions, a space technology platform backed by funds affiliated with private equity firm Madison Dearborn Partners. Method Capital and OCA Ventures also contributed capital to the Series C round.

Funds will enable the company to complete on-orbit testing and achieve flight heritage of OrbitSecure 2.0. The capital will also allow SpiderOak to establish its headquarters in Reston, Virginia and hire more for its Mission Systems’ program and engineering teams. Additionally.

Plans do not end there. The cybersecurity solution provider is also looking to build a space cybersecurity laboratory for hardware in the loop qualification testing for OrbitSecure and custom mission partner solutions.

SpiderOak’s flagship solution OrbitSecure leverages a decentralised key management system to allow for full availability and continued operations in space despite disconnected or highly contested networks.

This empowers decentralised space resiliency to multi-vendor, multi-network, mesh proliferated low-Earth orbit (LEO) networks by significantly reducing the attack surface and the ability of adversaries to jam, disrupt, modify, or contest space communications and satellite services.

The CyberTech company, which offers services to civil, military and commercial firms, boasts HIPAA compliance. It supports certain customers that are subject to the regulation. Its CrossClave tool allows them to share files and collaborate in real-time, whilst maintaining compliance.

SpiderOak CEO Dave Pearah said, “SpiderOak’s software solution begins by securing every data record, both in transit and at rest.

“We have designed it to be backwards compatible with legacy space systems, to allow current on orbit systems to take the step to much higher cybersecurity protections. With its ultra-low storage and processor needs, OrbitSecure is the ideal solution for the next generation of mesh networks in proliferated LEO.”

The cybersecurity solution provider recently signed a deal with the US Defense Innovation Unit to demonstrate OrbitSecure’s zero-trust protocol on-orbit.

Last week, Netskope, a secure access service edge (SASE) provider, closed an oversubscribed investment round on $401m.

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