NEW YORK, May 18, 2023--(BUSINESS WIRE)--Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, in SpiderOak, a leader in zero-trust cybersecurity and resiliency solutions for next generation space systems.
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Accenture has made a strategic investment, through Accenture Ventures, in SpiderOak, a leader in zero-trust cybersecurity and resiliency solutions for next generation space systems. (Graphic: Business Wire)
Based in Reston, Virginia, SpiderOak’s OrbitSecure product suite brings zero trust security to zero gravity environments. OrbitSecure leverages a powerful combination of no-knowledge encryption and distributed-ledger technology in order to meet the unique demands of cybersecurity in space. The product suite includes a fully decentralized key management system that helps enable full availability and continued operations in space, even within disconnected or highly contested networks. This increases resiliency for multi-vendor, multi-network, mesh proliferated low-Earth orbit networks by significantly reducing the attack surface and opportunities for adversaries to jam, disrupt, modify, or contest space communications and satellite services.
"As the space economy grows, we anticipate that global demand for secure communications will soar," said Paul Thomas, Space Innovation Lead, Technology Innovation at Accenture. "Our work with SpiderOak is the start of an exciting journey to enable secure communications in space and combine SpiderOak’s technology with solutions we are creating at Accenture, such as satellite communications, ground station as-a-service, remote IoT device-to-Satellite data, Space R&D and earth observation data."
According to Accenture’s Technology Vision 2023 report, 99% of survey respondents estimate advancements in science tech will have an impact on their organizations’ business processes over the next three to five years. The rapid increase in the number of satellites in space – government and commercial – has established a need for a hybrid, multi-party environment built with security by design. As emerging technologies accelerate science and impact business transformation, cybersecurity needs to be at the forefront for enterprises.
"Cybersecurity cannot be an add on, option, or silo in space. To protect and enable our future, we must give cybersecurity the same priority in space as it has now throughout critical infrastructure on the ground," said Tom Patterson, Quantum and Space Security lead at Accenture. "Working with SpiderOak, we can help our clients put zero trust security into zero gravity and take strategic advantage of these developments to transform their businesses in coming years, and ultimately the futures of their industries."
"As organizations look for solutions to innovate at speed with the rate of growth in space, SpiderOak is well positioned to empower commercial and government customers with our revolutionary cybersecurity platform for space communications," said Dave Pearah, CEO, SpiderOak. "We believe our participation in Accenture Project Spotlight, combined with Accenture’s deep experience with leading companies in the aerospace and defense industry and commitment to space innovation and security, will help drive increased awareness and adoption of our secure end-to-end satellite security offerings."
SpiderOak is the latest company to join Accenture Ventures’ Project Spotlight, an engagement and investment program that targets emerging technology companies that can help fill strategic innovation gaps for the Global 2000. In addition to capital investments, Accenture Venture’s Project Spotlight offers unprecedented access to Accenture’s technology domain expertise and its enterprise clients. Technology companies co-innovate with Accenture at its Innovation Hubs, Labs and Liquid Studios, working with subject matter experts to adapt their solutions to the enterprise market and scale faster and more effectively.
Terms of the investment were not disclosed.
Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent and innovation led company with 738,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Accenture Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients succeed and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at www.accenture.com.
Accenture Security is a leading provider of end-to-end cybersecurity services, including strategy, protection, resilience and industry-specific cyber services. We bring security innovation, coupled with global scale and a worldwide delivery capability through our network of Cyber Fusion Centers. Helped by our team of highly skilled professionals, we enable clients to innovate safely, build cyber resilience and grow with confidence. Follow us @AccentureSecure on Twitter, LinkedIn or visit us at accenture.com/security.
SpiderOak is a 100% U.S.-owned and operated software company that delivers end-to-end cybersecurity solutions for civil, military, and commercial space operations. Our commercially available products are built upon a foundation of zero-trust encryption and distributed ledger, ensuring the confidentiality, integrity, and availability of your most sensitive data in the space domain. For more information about SpiderOak products, services or business development opportunities, check us out at spideroak.com.
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