Xceedium Drives Expansion With $7.5 Million Series B Financing
New funds will be used to drive Xceedium’s sales and marketing expansion
RESTON, VA – October 12, 2010 – Xceedium Inc., the leader in Zero Trust Access Control solutions, today announced that it has closed a $7.5 million Series B financing led by existing investor ArrowPath Venture Partners. The new funds will be used to drive Xceedium’s sales and marketing expansion as well as fuel the ongoing development of its flagship GateKeeper product, an appliance-based solution that secures and audits privileged access to IT infrastructure.
“The privileged access security market is undergoing accelerating growth driven by data center virtualization and the adoption of cloud computing,” said Morgan Rodd, managing partner at ArrowPath Venture Partners and member of the Xceedium Board of Directors. “Our investment in Xceedium is based on this clear market opportunity, as well as the company’s solid business model, strong management team, and next generation Zero Trust Access Control technology. We know that Xceedium will deliver by continuing to be a unique and essential security solution for both federal government and commercial organizations.”
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Highly-regulated and security conscious organizations have identified the Xceedium GateKeeper as a must-have product to meet their evolving privileged access control needs. The Xceedium GateKeeper is the only solution on the market today that allows enterprises to enforce access control on vendors, contractors and IT administrators whether inside or outside of the network; to contain users so that they have access to only the resources they need; and to create an audit trail for proof of compliance with the security mandates of HIPAA, PCI, FISMA and other regulations.
“We have experienced strong customer growth in both the federal government and commercial sectors and are ready to go into full expansion mode,” said Glenn Hazard, chairman and CEO of Xceedium. “Enterprises are grappling with increased compliance demands and a rapidly evolving IT data center where the line no longer exists between insiders and outsiders on a network. In this environment, securing privileged access has become a business critical issue for CIOs. We are confident that we have the team, strategy, product, and now the capital infusion, to take advantage of this significant market opportunity.”
About Xceedium Inc.
Xceedium is the leading provider of Zero Trust Access Control solutions. The Xceedium GateKeeper is being used by large and mid-sized enterprises, as well as leading federal government agencies to meet their stringent security and compliance needs. This world-class technology allows organizations to control access to their network based on who the user is, and contains the user to explicit resources, eliminating the risk of allowing un-trusted third parties and privileged users on their networks. Coupled with cutting edge monitoring capabilities it also lets commercial and government organizations easily meet increasing compliance requirements including PCI DSS, HIPAA, and FISMA. It is FIPS 140-2 Level 2 and EAL2, EAL3 certified with EAL4 in process. For more information visit http://www.xceedium.com.