[Context: On October 10, Mission Secure announced the closing of a Series A financing round led by Energy Innovation Capital (EIC) and Chevron Technology Ventures, along with R/GA Ventures, Macquarie Capital, Blue Bear Capital, Felton Group and the University of Virginia Seed Fund. Further details and related links are below.]
Mission Secure, Inc. Announces Series A Venture Financing; Energy Innovation Capital and Chevron Technology Ventures Lead the Round
HOUSTON–October 10, 2018–(BUSINESS WIRE)–Mission Secure, Inc. (“MSi”), a leading control system cybersecurity company focused on energy, defense, and transportation, announced the closing of a Series A financing round led by Energy Innovation Capital (EIC) and Chevron Technology Ventures. R/GA Ventures and Macquarie Capital also participated in the financing along with existing investors Blue Bear Capital, Felton Group, LLC, and the University of Virginia Seed Fund. The funds will be used to accelerate growth and expansion of Mission Secure throughout the energy, defense, and transportation sectors.
The patented MSi Platform is the only cybersecurity solution in the market that effectively delivers visibility and protection for industrial-grade control devices inside of secure environments. Customers including major energy companies and several agencies within the US Department of Defense (DoD) benefit from the platform being simple to install and configure, which allows the MSi Platform to produce and distribute actionable information within minutes of configuration. Customers deploying the MSi Platform will be shielded from malware, advanced persistent threats, zero-day exploits, as well as insider threats and supply chain interdictions.
The industry leading team of financial and strategic investors with deep ties across energy and infrastructure in the U.S. and globally will help management rapidly expand solutions to customers trying to better assess their most critical control system cyber risks and deploy the MSi Platform to protect customers’ important physical assets from cyber-attacks.
Energy Innovation Capital (EIC), the leading growth investment firm, invests in technologies that increase operational efficiency, reduce risk, and increase sustainability. “As the digitization of the energy industry continues and increasing numbers of devices get connected, Mission Secure provides a level of industrial cybersecurity E&P operators have been asking for,” said George Coyle, Managing Partner of Energy Innovation Capital (EIC). “Mission Secure enables safer, more cost-effective operations by protecting assets and reducing risks,” Coyle added.
Macquarie Group Venture Studio with R/GA is a platform designed to promote innovations in InfraTech, with a focus on energy from source to switch. As a global leader in infrastructure, Macquarie Capital is focused on innovative energy solutions.
“By investing in companies committed to innovating upon infrastructure, we’re ultimately investing in the future,” said Stephen Plumlee, EVP Global Chief Operating Officer at R/GA Ventures. He adds, “We’re eager to advance these business leaders who will shape how we experience the world.”
“The financial capital provided by world leading energy investors will help us expand the team and execute on our mission to help shield the global energy industry from cyber-attacks, while helping the military be better protected from cyber adversaries,” said David Drescher, co-founder and CEO of Mission Secure.
About Mission Secure, Inc.
MSi is a leading provider of control system cybersecurity to some of the world’s largest organizations in the defense, energy, and transportation industries. The MSi Platform takes operational technology cybersecurity to all levels of control systems while maintaining the benefits of a networked environment which can be deployed and managed by a non-IT professional. The results bring cyber visibility and end point protection to operational technology (OT) and control systems in an easy to deploy and manage platform.
About Energy Innovation Capital
Energy Innovation Capital is the premier capital provider to energy innovators. EIC is building a platform for entrepreneurs to drive Silicon Valley innovation in the global oil, gas and energy industries.
About Chevron Technology Ventures
Formed in 1999, Chevron Technology Ventures (CTV), pursues innovative business solutions and externally developed technologies that have the potential to improve Chevron’s base business operations and champions their deployment and adoption into Chevron. Through its technology teams and venture capital group, CTV has supported a wide range of companies and venture capital funds.
About R/GA Ventures
R/GA Ventures helps industry leaders embrace disruption, connecting them with emerging startups, technologies and consumer behaviors to drive their businesses forward. Since 2013, the R/GA Ventures portfolio has grown to include more than 80 companies across a variety of verticals. R/GA Ventures and R/GA are part of the Interpublic Group of Companies (NYSE: IPG), one of the world’s largest advertising and marketing services organizations.
About Blue Bear Capital
Blue Bear is a venture capital and growth equity fund driving capital-light digital technologies into multi-billion-dollar verticals across the energy industry. The team comes together from leading energy private equity firms including Riverstone, First Reserve, and KKR, and features technology expertise from the tech startup world alongside operational leadership from the NASA astronaut corps. Blue Bear’s portfolio covers AI, IoT, and cyber security technologies, all earning material revenues from leading enterprise customers as they improve the economics of wind, solar, and storage while driving efficiencies across the energy industry.
About Felton Group, LLC
Felton Group, LLC is the family office of hedge fund manager Jaffray Woodriff. They invest in a variety of innovative, early stage technology companies.