St. Pete cybersecurity firm Code-X publically unveiled its platform following the completion of a $5 million funding round.
Code-X is a data security firm focused on working with the Department of Defense. The company moved to St. Pete last year and has been developing its new platform, which it revealed this week.
“I had some friends in the St. Pete area and after a few visits, I decided it was the place to be for an early-stage company,” Code-X founder and CEO Darren LaCroix told the St. Pete Catalyst about making the recent move to the area.
LaCroix has spent decades in the innovation and startup space in California and Washington.
He said he has been communicating with St. Pete Economic Development Corp. CEO and President J.P. DuBuque and others during the moving process to St. Pete.
“We’ve been in hiding the last three years,” he said, regarding working in stealth mode. “We wanted to make sure we took our steps very specifically and logically as we come to market.”
The company’s platform, which has been undergoing testing, is able to protect sensitive information across multiple environments while providing real-time alerts. The company caters to the defense and military industry.
The Code-X platform creates five dimensions of security and authenticates, manages and monitors data and systems in real-time. The platform prevents data corruption or loss with a significant return on investment. These features provide customers block-level control and the ability to detect tamper or theft in real-time. The Code-X platform also provides real-time audit logging, user management, alert and alarm systems, and instantaneous forensics.
“We are a DOD organization right now and the ability to get clearance in this area is a much higher pool than the other locations in the U.S.,” LaCroix added about the attraction to St. Pete. He said the company is moving toward the commercial side; the move will take place over the next nine to 12 months.
Code-X also announced it wrapped up a $5 million Series A funding round, which was led by Virginia-based By Light Professional IT Services LLC with participation from South Florida-based fama Ventures. The funding will be used for sales and marketing efforts.
“By Light were chosen outside of the traditional venture capital because it adds a lot of value to our growth strategy and integration process, as well as having a presence in Florida,” LaCroix said.
He and his team are located in Station House in downtown St. Pete on the third floor.
“We have room to grow on this floor at least for the next two years,” he said, stating his tech team is based in Georgia and will be relocating to St. Pete. Once the move happens over the next 18 months, the company will have 45 local employees.
He added that team members do not have to have the traditional college-level experience to work at Code-X.
Code-X is also in the process of inking contracts with new clients.
“With contracts in place, we are going to work with everyone from an individual in Ybor to clients in this area,” LaCroix said.