Code-X Series B Led by Sagewind Capital

Sagewind Capital has led a Series B financing for Code-X, a provider of security software. The new capital will be used to support Code-X’s continued growth.

Code-X has developed a commercially available lattice-based data protection platform that protects data from the threat of quantum computing. The company’s software platform, totaling just 1.4 megabytes, can protect sensitive information across all IT environments in tandem with authentication, management and monitoring data and systems in real-time. Code-X’s customers include the United States Department of Defense (“DoD”) and the other participants in the intelligence community.

Code-X is headquartered in St. Petersburg, Florida and is led by VEO and co-founder Darren LaCroix. “The Sagewind team has an impressive track record of working constructively with management teams in government services and the corporate sector to help drive growth and deliver successful outcomes,” said Mr. LaCroix. “We believe this enhanced partnership will better position us to execute on our strategic objectives.”

“We are excited to expand our partnership with Code-X, which has developed a proprietary solution that ensures organizations can protect their data and systems,” said Raj Kanodia, a managing director of Sagewind. “Code-X is well-positioned to capitalize on the expansive cybersecurity opportunities in both the government and commercial sectors, and we look forward to supporting Darren LaCroix and the team as they execute on the next phase of their growth strategy.”

In tandem with the closing of the Series B financing, Mr. Kanodia; Deborah Dunie, the former executive vice president and chief technology officer at CACI International (NYSE: CACI); and Bob Donahue, Jr., the chief executive office of cyber security firm By Light, have joined the board of directors of Code-X.

New York-based Sagewind Capital makes equity investments of $10 million to $150 million across several industries, including government services, aerospace & defense, software, information technology, healthcare and business services.

© 2022 Venture Capital Investor | June 27, 2022