RunSafe Security, a McLean, Virginia-based cybersecurity company, has raised $2.4m in seed funding.
The round was led by Alsop Louie Partners, an early-stage, risk-oriented technology venture capital firm in San Francisco.
Having recently concluded its participation in the CIT Mach37 Cyber Accelerator, RunSafe Security provides a patented cyberhardening process for vulnerable embedded systems and device. Along with the funding, it has also released Software Guardian, its proprietary binary hardening technology built to reduce vulnerabilities and deny malware the uniformity needed to propagate.
The Need to Cyberharden Vulnerable Embedded Systems & Devices
CSO predicts that cybercrime damages will reach an unprecedented $6trn by 2021. Cyberattacks often leverage memory corruption errors and buffer overflow exploits to manipulate embedded software and devices – enabling unauthorised access. To combat this, RunSafe deploys a cyberhardening transformation process that makes each device functionally identical and logically unique.
RunSafe’s new Software Guardian prevents malware from changing how commands are executed, thus denying exploits the standardisation required to take remote execution and control of a device or to propagate across multiple devices and networks.
“The embedded systems and devices essential to power plants, data centers, utilities, nuclear facilities, military assets and other critical infrastructure organisations face growing and documented risk from cyberattacks,” said Bill Crowell, partner at Alsop Louie.
“While most security for industrial control systems (ICS) and the industrial internet of things (IIoT) focuses on intrusion detection, and looking for anomalies, RunSafe Security is focused on mitigation and denying malware the uniformity it needs to spread. We are extremely impressed by RunSafe’s technology and brainpower and look forward to helping this company dominate its market.”
RunSafe is led by a seasoned team with multiple exits, including the sale of enterprise mobile device configuration security to Samsung. Its first customers include both Fortune 1000s and federal government agencies.
Alsop Louie Partners previous investments in the cybersecurity investments include Device Authority, LookingGlass, Netwitness, The Cipher Brief, Toopher and wickr.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
