Herndon, VA, Feb. 10, 2020 (GLOBE NEWSWIRE) — The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Arlington, VA-based HyperQube, a cyber range as a service offering that enables enterprises to quickly and easily build an exact copy of any IT infrastructure. HyperQube’s proprietary software orchestrates different virtual infrastructure providers, allowing enterprises to determine how a connected environment responds to changes caused by software updates, new technologies, and unplanned events such as outages or cyberattacks. This round of funding will be used to continue developing HyperQube’s software, making key personnel hires, as well as expanding marketing efforts.
With digitization and virtualization becoming more prevalent, the technology-focused world we live in has evolved to a distributed suite of cloud-based services. HyperQube’s products, made up of five tailored solutions, help enterprises build, iterate and deploy massive and complex environments in minutes. Their mission is to take the headache out of traditional virtual machine software and unlock opportunities for enterprises, educators, salespeople and technologists to test and experiment without the risk of harming an existing environment. Virtualized environments can be modified, reused, or shared between different groups.
“Making simple changes to a virtual environment shouldn’t have to result in a headache, but my previous working experience was just that. Project after project, my progress was stalled due to the bulky nature of virtual machines – so I decided to help change the system completely,” said Craig Stevenson, CEO of HyperQube. “We are grateful for the support of CIT GAP Funds, which will enable HyperQube to help more organizations use virtualization to strengthen their networks against cyber-attacks and other unplanned events.”
Whether on-premise or off, HyperQube uses a single interface to build and deploy solutions into any virtual infrastructure provider. HyperQube unifies the dysfunctional virtual infrastructure ecosystem by radically simplifying and automating the way it is created, distributed, consumed, and stored. There is no need for extra manpower or time needed to test changes or updates, which leads to massive productivity increase and cost decrease for enterprises.
“HyperQube is already working with customers all over the world, and is rapidly expanding to meet the demand of government agencies and enterprises in need of better infrastructure security, scaling, and updating,” said Jennifer O’Daniel, Investment Director at CIT GAP Funds. “Over the last year, HyperQube has shown extremely promising results, including bringing on customers and partners such as Cisco, the National Guard, and top academic institutions within the InterNational Cyber Security Center of Excellence (INCS-CoE) network such as Harvard, MIT, Oxford, Tel Aviv University and Keio University. We look forward to seeing what HyperQube will accomplish in the future.”
About CIT GAP Funds
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds’ investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel has convened leading regional entrepreneurs, angel and strategic investors, and national venture capital firms in the interests of Virginia’s entrepreneurs. Membership has included New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit www.citgapfunds.org.
About the Center for Innovative Technology (CIT)
Investing for Commonwealth Growth | CIT concentrates on the early commercialization and seed funding stages of innovation, helping innovators and tech entrepreneurs launch and grow new companies, create high paying jobs and accelerate economic growth throughout the entire state of Virginia. Founded in 1985, CIT accelerates next generation technologies and technology companies through commercialization, capital formation, market development initiatives, and expansion of broadband throughout Virginia. Our programs include | CIT GAP Funds | Commonwealth Research Commercialization Fund (CRCF) | Virginia Founders Fund | Broadband/Rural Broadband | Smart Communities | Cybersecurity | Unmanned Systems | SBIR/STTR Support (Small Business Innovation Research (SBIR) & Small Business Technology Transfer (STTR) programs) | University Partnerships | Startup Company Mentoring & Engagement. CIT’s CAGE Code is 1UP71. Contact: 2214 Rock Hill Road #600, Herndon, VA 20170 | 703.689.3000 | www.cit.org