Device Authority, an identity and access management solution, has scored $2.9m in its latest investment round.
Tern, ALP and Venafi served as the lead investors to the round.
Device Authority has earmarked the capital to bolster its revenue growth, support its expansion within core markets, particularly the US, and accelerate product enhancements for its flagship platform, KeyScaler.
KeyScaler provides trust for IoT devices, by implementing security solutions to protect them from attacks.
Device Authority CEO Darron Antill said, “Over recent months we have been delighted to work with new customers in industries such as automotive where IoT security is becoming even more crucial as the C-suite continues to prioritise managing risk within their organisation and their supply chain to protect customers. We continue to see an increase in customers who require a retrofit solution for legacy devices already deployed in the field, as well as those who make security an important part of their planning and development phase of a new IoT solutions
“As the requirement for a Software Bill of Materials (SBOM) becomes mandatory in the US in 2022, the drive for transparency of security within IoT products will force manufacturers to take action.”
Device Authority has been working closely with Venafi, a machine identity management platform, since 2019 when it joined the company’s Machine Identity Management Development Fund.
The Development Fund sponsored Device Authority to build a solution to protect companies from supply chain attacks on software updates. With this IoT teams can sign software updates with KeyScaler and instantly deliver them from the cloud with Venafi CodeSign Protect. They have full visibility and machine identities are not exposed.
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