RESTON, VA – Xceedium Inc., a company selling Zero Trust Access Control solutions, has closed on 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.
“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.”
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Tags: ArrowPath Venture Partners, Exceedium, financing, gatekeeper security solution, Reston, VA
