Xceedium, Inc., a Herndon, Va.-based provider of privileged identity and access management solutions, has closed a $12m Series B financing.
The round was led by existing investor ArrowPath Venture Partners, with participation from new investor Western Technology Investment.
The company intends to use the new funds for continued growth and expansion, with specific emphasis on its new cloud-based initiatives.
Led by CEO Glenn Hazard, Xceedium provides large enterprises and global government agencies with technology (Xsuite) to control access to their networks based on the user and meet security and compliance requirements.
The company has just launched Xsuite Cloud, a privileged identity and access management platform designed to provide additional protection for organizations that use Amazon Web Services (AWS) in conjunction with existing datacenter infrastructure.