University of Virginia Seed Fund returned to back industrial cybersecurity spinout Mission Secure in a round co-led by Chevron Technology Ventures and Energy Innovation Capital.

Mission Secure, a US-based industrial cybersecurity technology spinout from University of Virginia, closed an $8m series A round featuring the university’s Seed Fund on Wednesday. The round was co-led by Chevron Technology Ventures, the corporate venturing arm of oil producer Chevron, and Energy Innovation Capital. R/GA Ventures, an investment subsidiary of marketing agency R/GA, also took part in the round, as did Macquarie Capital, Blue Bear Capital and Felton Group. Founded in 2014, Mission Secure has created an industrial-grade cybersecurity technology called MSi Platform which monitors and protects against potential attacks on networks in the energy, defence and transportation sectors. The capital will enable Mission Secure to drive business growth in its target sectors with the help of contacts sourced through its investment consortium. The MSi platform is based on prototypes from Virginia’s Department of Systems and Information Engineering, as well as research funded by the US Department of Defense and the state government-run Center of Information Technology Commonwealth Research Commercialization Fund. Mission Secure received an undisclosed seed sum in a 2014 round co-led by Ballast Fund, an unnamed private equity firm and a number of angel investors, according to Homeland Security News Wire. The company subsequently obtained $2m in funding from undisclosed investors in 2016, according to a regulatory filing, before raising an undisclosed amount of capital from Virginia Seed Fund in September 2017.

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