Company epilot announced $10.8 million in funding from Expedition Growth Capital. The investment will be used to fast-track the product roadmap and empower leading energy and utility companies to seamlessly adopt renewable energy through advanced technology.
epilot, a cloud-based software powering the green energy transition, has raised €10 million (~$10.8 million) in funding from Expedition Growth Capital. Expedition partner Will Sheldon joined epilot’s advisory board.
The new funding will allow epilot to significantly grow its team of approximately 100 members, particularly by expanding the product engineering team. This growth will support the development of new products and solutions for the platform and enhance its AI capabilities.
Michel Nicolai, CEO & Co-Founder of epilot, stated the company’s mission is accelerating the energy transition. While epilot didn’t need to raise this funding due to its sustainable growth, the announcement marks a significant milestone in its journey.
Will Sheldon, Partner at Expedition Growth Capital also shared that the energy industry is increasingly embracing both digital transformation and the green transition. According to Sheldon, epilot’s strong and efficient growth highlights the value that sophisticated customer organizations are seeing.
About epilot:
Founded in 2017 by Michel Nicolai, Szilard Toth, and Rolf Benken, epilot is a cloud software that powers the green energy transition. With epilot, utilities can standardize and automate sales processes for new renewable energy products, increasing efficiency when handling customer inquiries and installation companies. Grid operators can use the software to reduce bottlenecks in workflows and connect more customers to renewable energy systems at home. epilot serves over 150 customers like DEW21, enercity, and Mainzer Netze.
(Source & Image Credit: epilot)
Tracebit Secures $5 Million in Seed Funding
SaaS startup Tracebit announced a $5 million seed funding round aimed at expanding intrusion detection capabilities using canaries across enterprises worldwide.
Tracebit, a cloud-based threat deception platform, has secured $5 million in seed funding led by Accel, with participation from Tapestry VC along with angel investors including Guy Podjarny (founder of Snyk), Tim Sadler, and Ed Bishop (Tessian Founders), Mandy Andress (CISO of Elastic) and 20SALES.
Andy Smith, co-founder and CEO of Tracebit, shared: “Our mission at Tracebit is to accelerate the mass adoption of threat deception for enterprises everywhere and to reduce the mean time for detecting an intruder from months to minutes. Honeypots are one of the biggest deterrents to cyber attacks but have been underused for too long due to their cost and complexity. This funding will help us bring threat deception to enterprises that haven’t felt able to leverage it before.”
Andrei Brasoveanu, partner at Accel, stated: “Having worked with Andy and Sam during Accel’s partnership with Tessian, I knew first-hand that they’re not only experienced technologists but also have strong commercial instincts. The Tracebit team’s cloud-native approach to threat deception and focus on modern DevOps tools and practices has already gained impressive early traction with customers and I’m excited about partnering with the team again on this new journey!”
The funding will be used to enhance its product development and expand its engineering team.
About Tracebit:
Tracebit generates and maintains tailored canary resources in cloud environments, closing gaps in stock protection without time and cost-intensive detection engineering.
The software detects and contains security incidents. Its mission is to reduce the global mean time to response to an incident from months to minutes with a solution that is quick to deploy and simple to understand.
Tracebit leverages modern cloud practices to enable security teams to scale an ‘assume breach’ approach across their organization quickly and with minimal overhead.
(Source: Tracebit & Tech.eu)
(Image Credit: Tracebit)
