This article originally appear on https://finance.yahoo.com/news/onclave-secures-series-b-financing-221100931.html on 08/04/20
Led by Pendrell Corporation and Option3Ventures, the latest investment round advances Onclave’s mission of delivering innovative cybersecurity communications for Enterprises and OEMs
McLean, Virginia –(News Direct via Newsfile Corp. – August 4, 2020) – Onclave, the industry’s first, true Zero Trust Platform for protecting Operational Technologies (i.e., CS, IoT, IIoT) including 5G, announced today it has completed a Series B round financing led by Pendrell Corporation and added a new investor, Option3Ventures. This Series B financing builds on an exceptional year for Onclave, which saw steady growth as its unique, innovative technology continues to offer affordable cybersecurity solutions to secure the world’s critical infrastructure.
“For Onclave, this is about much more than funding – it’s about partnerships with two strategic investors who are excited to help us expand and accelerate. In the fight to protect our critical infrastructure, Nation-States are the enemy,” says Glen Gulyas, CEO and Co-Founder of Onclave Networks.
“We believe securing 5G wireless and the Internet of Things (IoT) market will continue to see a tech-tonic shift as enterprises and government increase their reliance on IoT and look to secure those devices,” says R. Gerard Salemme, Co-CEO and President of Pendrell Corporation. “Onclave is a powerful solution for the industry, and we are excited to collaborate with and support them as they work to build a great company.”
“Onclave’s efforts to innovate IoT is changing the current digital landscape as we know it,” said Manish Thakur, Managing Partner, Option3Ventures. “I look forward to seeing the growth of the organization and how it shapes the cybersecurity of our virtual future.”
“In the coming months we’re introducing new offerings for deploying trusted, secure applications, remote access and 5G that will challenge the traditional approach to cyber security and define a new way to get more protection at a substantially lower cost,” says Glen Gulyas, CEO and Co-Founder of Onclave Networks. “Our mission is to change the way the world communicates by making security a normal, simple and inexpensive option for enterprises and OEMs alike.”
Both Salemme and Thakur have joined Onclave’s board of directors.