XONA Systems Secured $7.2M in Series A Funding
Maryland-based XONA Systems has closed their successful Series A funding with $7.2 million in funding. This funding will be directed towards building out the company’s sales and marketing team as well as an investment in product development. These two moves will position the company for an international expansion.
The startup developed a secure platform for businesses to use digital tools to control physical infrastructures including oil rigs and wind turbines. The company saw the need for remote and secure access to operational technology and built a platform that would meet these needs.
“Being able to access operational technology and other critical systems at any time, and from anywhere is becoming a necessity. Hybrid work is convenient, cost effective and plays a role in recruitment and retention – but for critical infrastructure, it’s all that and way more,” said Bill Moore, founder and CEO at XONA. “There are countless reasons professionals running oil rigs in the middle of the ocean, manufacturing plants meeting high demand, water treatment facilities serving large populations and other critical facilities need 24/7 access. But providing that access has traditionally been complex and fraught with security issues – that’s why we built XONA.”
Technology agnostic and configured in minutes, XONA’s proprietary protocol isolation and zero-trust architecture immediately eliminates common attack vectors, while giving authorized users seamless and secure control of operational technology from any location or device. With integrated multi-factor authentication, user-to-asset access controls, user session analytics, and automatic video recording, XONA is the single, secure portal that connects the cyber-physical world and enables critical operations to happen from anywhere with total confidence and trust.
They intend for this expanded global presence to reach more than 25 countries which will further enhance their secure reach. As a result of the funding, Mike Janke, managing director at DataTribe Opportunities Fund, has joined the company’s board of directors. In addition, Jeff Williams, former chief revenue officer at FireEye, has joined as an independent board member.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
