Endpoint cybersecurity platform Firedome has raised $10m in a Series A funding round, just months after closing its seed round.
Two Sigma Ventures led the round, with contributions also coming from World Trade Ventures, Silvertech Ventures, and Firedome’s seed investors.
Capital from the round will be used to expand its solutions and sales efforts to move into new verticals including industrial IoT and enterprise IoT connected devices.
The company offers real-time endpoint cybersecurity services for IoT companies, using machine learning technology to identify, prevent and respond to attacks.
Two Sigma venture partner Matt Jacobus said, “With IoT devices proliferating rapidly, I believe there is now more than ever a need for robust endpoint device protection.
“There are 8 billion connected devices that exist today, ranging from complex machines with sophisticated architectures to tiny devices with limited resources, that could benefit from the proactive protection of Firedome’s lightweight agent coupled with their backend machine learning platform and security operations centre.
“If you’re a device manufacturer and you’re not actively monitoring what’s happening inside your device, you may soon be facing serious reputational and financial risk.”
Earlier in the year, Two Sigma contributed to the $30m Series C round of identity verification and fraud prevention company Socure. The company uses AI and machine learning technology to monitor and corelate thousands of online and offline data sources to give a holistic model of customer identity verification.
Copyright © 2018 RegTech Analyst
