NetRise, a company providing visibility into IoT security problems, has raised $8m in a recent funding round.
The round was led by Squadra Ventures, with participation by existing major investors Miramar Digital Ventures, Sorenson Ventures and DNX Ventures.
NetRise has developed a cloud-based SaaS platform that analyzes and continuously monitors the firmware of Extended Internet of Things (XIoT) devices.
The company enables device manufacturers and enterprise customers to detect, respond to, and prevent threats throughout their supply chains.
This funding will allow NetRise to expand its platform capabilities such as coverage for Windows systems and containers as well as development of additional machine learning models for advanced analysis.
The NetRise platform enables continuous monitoring and analysis, compliance assessment and recommendations, real-time-risk tracking, and the generation, storage and management of Software Bills of Materials (SBOMs).
The firm reduces the time and cost of firmware and software supply chain security programs, allowing organizations to quickly find and remediate previously undetected issues.
NetRise CEO and co-founder Tom Pace said, “Firmware security is not a problem that is relegated to a particular vertical or industry. We have built our platform in such a way that support for automotive, networking equipment, consumer IoT, industrial control systems, and medical device firmware alike are all supported.
“While working at the Department of Energy, I saw firsthand how little insight we had into the vulnerabilities and risks embedded in technology critical to every aspect of our daily lives. Our vision is that every technology user understands the ingredients in their tools and the potential implications of those components, no matter the source.”
US-based CyberTech platform AaDya Security has recently raised $5m for its Series A round, which was led by New York-based Left Lane Capital.
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