Xeol, a NYC-based cybersecurity startup, raised $3.2M in Seed funding.
The round was led by Shield Capital with Y Combinator and 468 Capital also participating.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO ShiHan Wan, Xeol focuses on securing software throughout its lifecycle beginning at the code repository all the way through delivery to customers. The team starts by managing enterprises’ end-of-life software whose publishers no longer provide security patches. Attackers typically gain access to vulnerable systems by phishing, then exploiting unpatched software. PCI 4.0, a security standard for handling payment card data, will mandate that companies have a program to manage end-of-life software, highlighting the growing threat surface.
Since launching the company four months ago, Xeol has already signed its first Fortune 500 customer. For this customer, the team was able to identify more than 2,000 end-of-life software components and reduce the company’s exposure by 60%.
FinSMEs
12/12/2023