51.1 F
Laguna Hills
Thursday, Mar 28, 2024
-Advertisement-

CYBER CENTER

DAN LEJERSKAR
CEO
Eon Reality
Irvine

Company is the creator of what it calls the “Knowledge Metaverse”; its augmented reality (AR) and virtual reality (VR) software is used in a variety of educational and business applications. Eon Reality specializes in what is known as “extended reality,” or XR, which lets people use electronic devices to visualize objects ranging from the parts of the human heart to component pieces of jet engines with full three-dimensional effect. XR is essentially the combination of virtual reality and augmented reality.

THEN: Launched in 1999, Eon Reality has built up a network of more than 1.1 million licensed users, and counts a base of offices that span the globe. The company says it has created “the world’s leading XR library for education and industry,” with over 2.1 million 3D assets as of March. The company has pivoted in the past two or three years more toward education, while retaining a full roster of business clients, Lejerskar told the Business Journal last year.

NOW: Said in April it would go public via a reverse merger with a Florida-based Special Purpose Acquisition Company, or SPAC, Arogo Capital Acquisition Corp. (Nasdaq: AOGO). The merger agreement implies a pro forma company enterprise value of about $655 million for Eon Reality, according to the company.

FUTURE: The transaction will provide Eon Reality with about $101 million in cash proceeds to its balance sheet, which are expected to be used to expand the company’s base of operations.

IN THEIR WORDS: The CEO, who will remain in charge of the public company after the reverse merger is completed, said his goal with the company is to “democratize extended reality, not to make it special.”

Hasan Imam
CEO
Obsidian Security
Newport Beach

Obsidian is quickly moving further into the front ranks of Orange County’s growing cyber-protection industry. Well-funded firm’s offerings are designed to meet the growing demand for corporate cybersecurity, enabling companies to maintain what the tech world calls good “SaaS Security and posture management.” The company counts nearly 100 corporate customers, according to Imam.

THEN: The software maker’s founders include two former executives of onetime Irvine-based cybersecurity firm Cylance Inc., and which also count ties to well-known security firm Carbon Black. Has raised a total of $119.5 million since its founding in 2017. Imam said revenue showed an almost four-times increase last year, and he expects three-times growth in 2022, though he did not disclose figures. The company said its number of deals of $100,000 or more increased fivefold last year.

NOW: In April, announced a $90 million financing round led by prominent Silicon Valley investment firm Menlo Ventures. Obsidian will be investing a significant amount of its latest funds in research and development positions this year and “Newport Beach-Orange County is a big area of our focus for those hires,” Imam told the Business Journal. The company also has offices in Silicon Valley.

FUTURE: Imam expects the current companywide headcount of 80 people to double this year as demand for corporate cybersecurity jumps.

IN THEIR WORDS: “Even if you have perfect posture, perfect configuration, perfect controls around data visibility, perfect controls around how you are granting people privileges, accounts can still be compromised.”

PALMER LUCKEY
Founder
Anduril Industries
Costa Mesa

Founder of a growing defense industry startup whose drones, sensors and other products use artificial intelligence for a variety of uses. Formed in 2017, Anduril aims to use its technology to radically transform U.S. defense capabilities and solve national security challenges. The company also develops border protection systems. The 29-year-old entrepreneur previously founded Oculus VR, which was sold to Facebook for $3 billion in 2014. Anduril is already worth well more.

THEN: Anduril’s most recent founding round, about a year ago, totaled $450 million in a Series D financing. It was led by Elad Gil, an early investor in the company. That more than doubled the company’s valuation to $4.6 billion from its last raise in July 2020, according to an Anduril statement.

NOW: Company, having won several $1 billion military and defense-related contracts, reportedly raising capital that could propel its valuation to more than $7 billion. Anduril is planning to raise at least $500 million in a Series E round, though that amount could reach $1 billion, according to news reports. Currently employs about 950 people globally, and is looking to hire hundreds more for its expansive new campus in Costa Mesa.

FUTURE: Already with drones in the air and on-land sentry towers, the company is now expanding underwater. Anduril and the Australian military are “entering into commercial negotiations for a $100 million, co-funded design, development and manufacturing program for extra-large autonomous undersea vehicles for the Royal Australian Navy,” according to a May 4 announcement. That came a month after the company bought underwater drone maker Dive Technologies of suburban Boston on undisclosed terms. It’s one of several acquisitions for company over past year.

IN THEIR WORDS: Has been coy on whether Anduril’s technology is being used by Ukrainian defense forces against Russia, though he confirms having met with Ukraine’s President Volodymyr Zelensky before the war. “I will say we’ve designed our technology to be specifically relevant to exactly these challenges,” he told Wired in a March interview.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

Previous article
Next article
-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-