Sternum, an IoT security platform, has collected $27m in its Series B funding round, which was led by Spark Capital.
Contributions to the round also came from Square Peg Capital, the Hinrich Foundation, btov and others.
The funds will help the copany bolster its R&D efforts and hire more staff as it continues with its global go-to-market strategy.
Sternum claims this is one of the largest funding rounds to be raised by a female-founded and led security and analytics companies.
The CyberTech company claims to differ from other IoT security solutions by understanding each device is different and purpose-built for a single use. Through this, Sternum embeds a code-free technology and software sensor into devices, enabling the technology to become self-securing, while collecting intimate data at runtime execution.
Through this, Sternum claims to offer strong mitigation and prevention, supported by data and analytics, software and security alerts, quality and performance root-cause analysis, user behaviour monitoring, and more.
Sternum co-founder and CEO Natali Tshuva said, “We could not be more thrilled that Spark Capital is now our lead investor. They have deep knowledge of our space, so their validation of our vision means a great deal. We seek to create a world where the ability of IoT to bring efficiency and insight to the global economy – and transform the lives of billions – can continue without encumbrance.
“This potential has been held back by the lack of an infrastructure for every smart IoT device. We are pushing the boundaries of what’s possible, by bringing security to these devices, and extracting data from them.”
With the close of the round, the company has raised a total of $37m in funding, to date.
Copyright © 2018 RegTech Analyst