Xona Systems, Inc.

Xona Systems, Inc. is a US-based company specializing in secure remote access solutions for Operational Technology and Industrial Control Systems, focusing on high-performance access to critical industrial assets. Founded in 2017 and headquartered in Annapolis, US, Xona Systems, Inc. provides cutting-edge solutions for secure access to industrial control systems.

The company was established by Bill Moore, who has a history of founding successful ventures in the technology space. Xona has successfully completed 4 deals, with the most recent being a Series A funding round led by Energy Impact Partners in June 2024, raising USD 18. 000 mn, which brings the total amount raised to USD 18. 000 mn and a current valuation of USD 53.

869 mn. Xona specializes in providing secure remote access solutions tailored for Operational Technology (OT) and Industrial Control Systems (ICS). The company's core offering is a zero-trust platform designed to enable controlled and high-performance access to industrial assets from any device. This solution facilitates clientless browser sessions, allowing technicians to gain fast and reliable access to ICS systems regardless of their location.

Key use cases involve streamlining maintenance and monitoring tasks while ensuring compliance with security standards through automated session evidence generation for audits. Xona serves a diverse clientele across multiple industries, including manufacturing, energy, and utilities, focusing on markets in North America and Europe. The company's customers include various enterprises that rely on critical infrastructure and require robust security measures to protect their operational environments. The revenue model for Xona is primarily based on subscription services, reflecting a B2B transaction structure that caters to enterprises seeking secure remote access solutions.

Clients typically engage with Xona through annual or multi-year subscription agreements, which grant them access to the company's flagship zero-trust platform and its associated services. These subscriptions may vary based on the scale of deployment and specific requirements of the client's operational environment, allowing for tailored pricing based on the number of users or devices involved. Xona's offerings are positioned to address the growing demand for security and compliance within industrial sectors, thereby establishing a strategic revenue stream linked to the advancement of cybersecurity needs in OT and ICS applications. In June 2024, Xona Systems, Inc.

secured USD 18. 000 mn in Series A funding, led by Energy Impact Partners. The company plans to utilize this funding to support the development of its operational technology, with a focus on launching new products designed to enhance security and access capabilities. Xona is also targeting expansion into additional geographic markets, particularly aiming to increase its presence in Europe and North America by the end of 2025.