Xeol Raises $3.2M Seed Funding to Enhance Software Supply Chain Security

New York-based cybersecurity startup Xeol announces a $3.2 million seed funding round led by Shield Capital, with participation from Y Combinator and 468 Capital. Xeol focuses on enhancing security in software supply chains, particularly addressing end-of-life software vulnerabilities. CEO ShiHan Wan emphasizes the importance of industry standards like Software Bill of Materials (SBOM) and Supply-chain Levels for Software Artifacts (SLSA) in accurately assessing and mitigating supply chain risks. Xeol, which recently emerged from stealth mode, has already signed a Fortune 500 customer, achieving a significant reduction in the customer's software exposure.

ShiHan Wan, Xeol's CEO and co-founder, brings experience from leading startups Electric and Ada to unicorn status. Xeol's CTO and co-founder, Benji, previously contributed to the success of AI unicorn Ada and played a crucial role in creating Datadog's service catalog and SRE best practices. The startup's strategic focus on software security aligns with the growing threats to software supply chains, and it aims to provide comprehensive solutions for businesses to safeguard their critical digital assets.

Addressing the increasing cyber threats in software supply chains, Xeol's mission is to secure businesses from vulnerabilities in end-of-life software. The startup's success is evident in its swift achievement of a Fortune 500 customer, highlighting the immediate impact of its approach. Xeol's emphasis on adhering to foundational standards and accurate risk assessment sets the stage for future advancements in software supply chain security.