Eclypsium, startup founded by Ukrainian, raised $25 million

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Cybersecurity startup Eclypsium has closed a new round of funding in the amount of $25 million. The round was led by Ten Eleven Ventures, with participation from Open Innovation Fund and J Venture, ain.ua reports.

The previous backers of the startup include the well-known venture capital firms Andreessen Horowitz and Madrona, which supported the project in Seed and A-rounds.

Eclypsium, a cloud-based platform that provides protection against device hardware, firmware, and software, was founded in 2017 by a Ukrainian Yuriy Bulygin, who is now living in the US.

Before launching the startup, Bulygin worked at Intel, where he led security threat analysis and directed research on software and hardware vulnerabilities and exploits, techcrunch.com reports.

Eclypsium will use the latest funding, which brings its total raised to about $50 million, to increase sales, enhance the product and grow the startup’s team to over a hundred people by the end of 2022.

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