SpiderOak Secures Investment from Accenture, Raytheon Technologies & Stellar Ventures

WASHINGTON, May 18, 2023 /PRNewswire/ -- SpiderOak, a leader in zero-trust cybersecurity and resiliency solutions for space systems, is pleased to announce an investment from key industry participants, Accenture Ventures, Raytheon Technologies' RTX Ventures, and Stellar Ventures. This investment will accelerate SpiderOak's deployment of zero-trust, end-to-end data security solutions for commercial and government customers operating in space.

This investment continues SpiderOak's ambition to partner with industry giants to address what the Space Force has identified as the "soft underbelly" of the U.S. national security space infrastructure and will accelerate SpiderOak's extension of OrbitSecure into the ground infrastructure to ensure end-to-end encrypted data security.

"We appreciate the support and confidence of Accenture Ventures, RTX Ventures, and Stellar Ventures, each a highly esteemed industry veteran fielding and supporting critical space infrastructure for decades," said Dave Pearah, CEO of SpiderOak. "With this new investment, we are even better positioned to continue our growth in the space sector and to provide our customers with the highest levels of cybersecurity and resiliency solutions available. We look forward to working with our new partners to protect the entire space ecosystem, from ground to orbit."

SpiderOak's OrbitSecure product suite provides a zero-trust, end-to-end data encryption that addresses the unique challenges of securing space-based assets. The company's storied success in zero-trust secure data storage has vaulted the company into a leadership position in the space cybersecurity market, making it a go-to solution for commercial and government customers operating in space.

"SpiderOak's innovative approach to zero-trust cybersecurity solutions for the space industry aligns with our mission to prioritize and elevate cybersecurity in this critical area," said Tom Patterson, Quantum and Space Security lead at Accenture. "To safeguard our future, we must give cybersecurity the same priority in space as it now has throughout critical infrastructure on the ground. With our investment in SpiderOak's OrbitSecure technology, we can help our clients with the expertise and software needed to achieve a zero-trust approach to space-based cybersecurity."

"SpiderOak is an emerging player in the software industry with products designed specifically to help make today's space ecosystem secure," said Daniel Ateya, president and managing director of RTX Ventures, the corporate venture capital arm of Raytheon Technologies. "The satellite systems we rely on to be the eyes and ears of our national defense are very much at-risk from cyber threats; we see our investment in SpiderOak as a key enabler in helping our clients maintain, secure and resilient data communication and storage in these highly contested environments from ground to LEO to cislunar."

In addition to this investment, Raytheon Technologies' BBN division announced in April strategic efforts to develop solutions to ensure resilience of mesh networks in contested environments by utilizing SpiderOak's OrbitSecure solution and Raytheon BBN's Distributed, Disrupted, Disconnected and Denied (D4) secure cloud solution.

"We recognize the immense market opportunity for cybersecurity solutions in space, and we see SpiderOak as the company uniquely positioned to address this growing need with their zero-trust approach at the data level to assure users of the most secure systems operations," said Celeste Ford, managing director, Stellar Ventures. "As the space industry continues to expand and evolve, the demand for advanced cybersecurity measures will only continue to increase. We are thrilled to support SpiderOak in their efforts to develop and implement cutting-edge OrbitSecure solutions to protect the entire space ecosystem."

About SpiderOak

SpiderOak is a 100% U.S.-owned and operated software company that delivers end-to-end cybersecurity solutions for civil, military and commercial space operations. Our commercially available products are built upon a foundation of zero-trust encryption and distributed ledger, ensuring the confidentiality, integrity and availability of your most sensitive data in the space domain. For more information about SpiderOak products, services or business development opportunities, check us out at www.spideroak.com.

SOURCE SpiderOak Inc.