Sepio Systems, a Rockville cybersecurity startup, is set to further grow its workforce and scale its service offerings after raising new capital from an investment firm based in the United Arab Emirates.
The new funds from Abu Dhabi's Tau Capital serve as an extension to Sepio's Series B funding round, which previously stood at $22 million as of November 2022.
Sepio did not disclose the specific size of the round's extension nor did a spokesperson respond to requests for comment, but the company noted in a statement that its total outside investment has now reached $48 million since its founding in 2016.
Sepio's cybersecurity products offer a platform for its customers to simplify the management of hardware assets, and the risks associated with these devices, across a network. The platform can detect, identify and then manage assets to better prevent threats they might pose — an otherwise burdensome task once the quantity of devices accessing a given network reach the tens of thousands, as is often the case at larger companies.
The funds will be used to expand staffing at Sepio's customer support organizations as it works to address "an exceeding demand" for its products from large, global companies, the likes of which span financial institutions, health care organizations, critical infrastructure providers and governments, per the company's statement. Sepio employs more than 65 workers across its headquarters in Rockville and offices in Lisbon, Portugal, and Tel Aviv.
Prior investors in Sepio include U.S. Venture Partners (USVP), Hanaco Ventures, Munich RE Ventures, Merlin Ventures, Citi Ventures and Pico Partners, among others.
Sepio graduated from D.C.-based govtech accelerator Dcode in 2020.
