The company has recently closed a round of funding headed by Investing Profit Wisely. This injection of funds will reinforce their technology and boost expansion in the most competitive international markets, with the main focus on Europe and the USA
Xygeni Security, a leader in SaaS solutions for ensuring security of the software supply chain has closed a funding deal running to an investment of 4 million euros, led by Investing PROFit Wisely (IPW).
IPW is a Spanish investment firm specialising in software companies, and a leader in its field. The firm brings both capital (Investing profit), and Knowledge (Wisely) to the companies that it invests in, with a guarantee that is backed by its proven success in the software industry.
Alongside these twin inputs, is the added impetus of its product strategy, promoting sales and internationalisation, while at the same time taking care to ensure that internal efficiency is also up to par. IPW is also known for supporting SaaS software companies that focus on cybersecurity. This is why it is assisting Xygeni with its plan to expand to new markets, improving its customer support capacity and building relations with local partners and distributors.
According to Jesús Martín, joint founder and CEO of Xygeni: «We are experiencing a dramatic growth in attacks on the software supply chain. Now is the time for organisations to concentrate on improving the security of their software development life cycle».
This significant investment will enable Xygeni to reinforce its technology and increase its expansion into international markets, focussing especially on Europe and USA, a qualitative leap that is planned for late 2023. Luis Rodríguez, CTO and joint founder of the company, holds that «our technology is capable of identifying and resolving new forms of attack designed to infiltrate the software development process in order to distribute malicious codes encapsulated within legitimate coding’’. Furthermore, he adds: «we analyse the activity and behaviour of developers and attackers in real time to detect unusual behaviour and neutralise any potential security risks».
The company will continue its work in the light of this new financial impetus that will enable the company to make the leap to international status. Its main goal is to maintain its leading position by ensuring that software assets, workflows and infrastructure remain secure throughout the whole supply chain.