Zero trust cybersecurity firm Xage Security received investment from Science Applications International Corp. (NYSE: SAIC) and six other venture capital firms in a funding round that raised $20 million.
The financing series, which has received a total of $80 million, will be used to advance Xage’s research and development initiatives and expand its go-to-market operations, the company said Thursday.
SAIC was a first-time participant in the fund-raising round, joining existing Xage investors Chevron Technology Ventures, Piva Capital, March Capital, SCF Partners, Overture Climate Fund and Valor Equity Partners. Its contribution was announced on the same day that SAIC and Xage unveiled a strategic partnership to provide cybersecurity services to federal agencies, including the Department of Defense.
“Xage and SAIC help accelerate the adoption of Zero Trust principles throughout the federal government, using Xage’s technology to protect digitally transforming enterprises from cyber-attacks,” said Lauren Knausenberger, chief innovation officer at SAIC and a recent Wash100 awardee.