Portland-based hardware security startup Eclypsium raises $13M

Portland, Ore.-based startup Eclypsium raised $13 million to help expand its enterprise hardware security technology.

Founded in 2017, the company helps detect, analyze, and prevent security threats at the firmware level.

Eclypsium is led by co-founder and CEO Yuriy Bulygin, a former top engineer at Intel and founder of the CHIPSEC project. He started the company with CTO Alex Bazhaniuk, another former Intel security engineer.

“The ongoing and material shift to remote work has brought new risks from remote and BYOD devices and remote access infrastructure,” Bulygin said in a Bulygin. “Traditional software security solutions don’t provide visibility into the firmware risks these devices bring to an organization. We have built world-class expertise and technology, in partnership with our customers, to address the firmware risk.”

New backers AV8 Ventures, TransLink Capital, Mindset Ventures, Alumni Ventures Group, and Ridgeline Partners invested in the round, which included participation from existing investors Intel Capital, Madrona Venture Group, Andreessen Horowitz, and Ubiquity Ventures. Total funding to date is $25 million.

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