Aiden Technologies, a leading solutions provider of software deployment and patch management solutions for Microsoft Windows, announced that the company has raised $2.9 million in its seed funding round. The round was fulfilled by a leading investment from Right Side Capital Management and a mix of experienced institutional and strategic individual investors. The investment will bolster Aiden’s mission to leverage artificial intelligence (AI) to ensure every Windows endpoint is consistently kept up to date and secure, bridging the gap between IT and cybersecurity.
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Richard Clarke said, “When I met the Aiden team, I immediately recognized that every Microsoft customer can benefit from Aiden’s unique ability to fix systemic vulnerabilities that have plagued Windows environments for years. Aiden’s proprietary technology, proven in some of America’s leading private equity firms, is addressing the most fundamental IT security challenge of the modern enterprise.”
Other notable investors in the round included Congress Avenue Ventures, Intercept Ventures, SAJE Investments, and the Gaingels. Additional capital was raised from key advisors and strategic individual investors who know the IT Security landscape exceptionally well. They include Alexsis de Raadt St James, Managing Partner at Merian Ventures; Chris Wysopal, Founder & CTO at Veracode, and Anthony Johnson, Managing Partner and CISO at Delve Risk.
Aiden plans to use the funds to fortify its recently unveiled automated endpoint management solution and fulfil the company’s go-to-market strategy. The company’s innovative technology makes it easier for organizations in highly regulated industries like financial services, life sciences, insurance, and healthcare, to achieve compliance with regulations, cybersecurity best practices, and organizational standards.
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“Aiden is an ideal portfolio company to start-off our newest and largest fund to date,” said David Lambert, Managing Director of Right Side Capital Management. “We invested in these founders because of their vast experience and credibility in cybersecurity, IT operations, and enterprise software. Aiden has a huge market opportunity and is now armed with the capital to reach escape velocity.”
According to a study by Risk Based Security, 37 Billion records were stolen in 2020 due to a data breach. IBM & Ponemon Institute calculated that the average cost of a stolen record during that time was $146, and Dark Reading estimated that around 60% of those data breaches could be traced back to a missing patch. This means that at least $3.24 Trillion is lost annually due to the cost of poor patch management.
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“Cybercriminals are using new technologies to exploit vulnerabilities faster than ever before and holding for ransom some of our nation’s most critical infrastructure, while IT teams are outmatched with their current tools,” said Joshua Aaron, CEO of Aiden. “With Aiden, IT teams can leverage AI to keep their systems updated and secure, increase their organization’s cybersecurity posture, and free up critical resources from tedious maintenance to focus on high-profile, high-visibility projects and direct user support.”
Building on the success of the recently launched thought-leadership series, “The IT-Security Paradigm Shift,” Aiden is hosting the second installment on June 10th at 3 p.m. EDT. Aiden CEO Joshua Aaron will moderate the one-hour session with John Kindervag, Creator of Zero Trust and SVP, Cybersecurity Strategy for ON2IT, and Scott Scheferman, Principal Cyber Strategist for Eclypsium, as they examine “How to Achieve a Zero-Trust Framework Leveraging New Technologies like Artificial Intelligence.”
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