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Mission Secure Completes Fourth Successful Financing
Written by Mission Secure News Desk
August 08, 2017
We are pleased to announce overwhelming investor support for another successful financing completed this month. Several early stage venture funds participated in the financing, in addition to high net worth, successful business leaders from across the U.S.
Our Story and the Financing
Mission Secure's largest financing to date will further our journey to protect control systems from cyber attacks in defense, oil & gas, power and transportation. The original concepts began in 2010 borne out of requests from the U.S. Department of Defense to identify cyber attacks on weapons systems and weapons platforms and still be able to carry out the mission - cyber resiliency. The University of Virginia began researching the topic leading to early prototypes for autonomous vehicles and various military applications. Successful entrepreneurs with proven track records taking novel technology and commercializing it for homeland security, public safety and clean energy co-founded Mission Secure in the summer of 2014 with the original UVA research team.
Three initial funding rounds enabled development of a unique, patented, industrial grade, military hardened product, the MSi Platform, combining unprecedented cyber visibility and protection. The funding brought together a world class team of cyber, control system, military and industry experts and deployments at early adopters in defense and industry. This fourth round of funding will facilitate continued rapid growth and expansion to protect control systems and the assets they operate in defense, energy and transportation. Early stage venture groups, Blue Bear Capital, the University of Virginia Licensing and Ventures Group Seed Fund, and Jaffray Woodriff, Charlottesville hedge fund manager, through his family office, Felton Group, LLC, participated in the financing and bring strong expertise and contacts in energy, technology, data science and the venture capital and private equity communities.
Cyber Defense in Energy & Critical Infrastructure
"Blue Bear Capital is excited to support the Mission Secure team in helping to protect the safety, reliability, and economic value of critical infrastructure. As investors focused on digital technology in the energy industry, we know that cyber security threats are becoming more common and more severe as drilling rigs, pipelines, power plants, and renewable energy assets get connected online. We believe MSi's technology offers an important solution featuring strong technology and industry understanding, at a price point that allows broad adoption."
Ernst Sack, Partner, Blue Bear Capital.
Cyber Defense, Data Science and AI
"Our founder, Jaffray Woodriff, is a visionary and world renowned leader in data science and co-founder of Quantitative Investment Management, a successful quantitative hedge fund with over $3.5 billion under management. Data science plays a role in improving cyber security for critical infrastructure and defense. Mission Secure offers a unique solution in the control system cyber security market combining visibility, protection and corrective action capabilities which all benefit from advanced data science, machine learning and AI capabilities. Felton Group has invested in over 30 start ups, and numerous follow on venture rounds, in Charlottesville, VA based companies. We are excited to be working with the Mission Secure team."
William Foshay, President, Felton Group.
Innovation and Execution
"Mission Secure combines innovative, control system cyber security technology with a talented, proven and passionate team. They are solving real and meaningful problems confronting all of us today. Our team at UVA LVG Seed Fund and venture capital investors strongly support their mission and continued success."
Robert Creeden, Managing Director, UVA Seed Fund & New Ventures
Pursuit of the Mission
"I am fortunate to have been involved with several early stage companies making the world a better place. The protection of military assets and critical infrastructure from cyber attacks is paramount to national security and our continued way of life. We are grateful for a tremendous group of successful investors supporting us in this highly worthwhile cause. Come and join our team."
David Drescher, Co-founder and CEO, Mission Secure, Inc.
Originally published August 8, 2017, updated April 28, 2021.