Israel's SecuriThings, an IoT security company, announced Wednesday it raised $14 million in a Series A financing round.
The new financing is expected to fuel the next phase in SecuriThings' growth, including expanding the functionality of its IoT operations (IoTOps) platform, and boost its global sales and marketing operations. Venture capital fund Aleph led the round, with participation from existing investors Firstime VC and angel investors.
On its website, the company says "IoTOps encompasses all operational teams that are accountable for the deployment of IoT devices, their availability and their cyber security. These teams are responsible for monitoring the device status, directing technicians, defining and implementing organizational policies, resolving operational issues, overseeing upgrades, and more."
SecuriThings Horizon is the first IoTOps solution that enables organizations to maximize the operational efficiency and security of their devices. The state-of-the-art platform provides risk detection, predictive maintenance and automated operations for managed IoT devices, in a single unified view, according to the company.
Major organizations including large enterprises, financial institutions, universities, airports and retailers are using SecuriThings to monitor and secure their IoT devices globally. SecuriThings has also established partnerships with leading global system integrators, device management systems and edge device vendors including Microsoft, Convergint Technologies, Johnson Controls and many others, the company said.
"From access points to cameras to building management systems, most enterprises have thousands of IoT devices powering mission-critical security and operations use cases — with no unified tool to ensure that they are available and secure," said Roy Dagan, CEO of SecuriThings. "This increasingly puts organizations and their operations at risk, and drives maintenance costs through the roof."
"We initially started with IoT cybersecurity and quickly discovered a major problem our customers were facing that no one was solving. There are 'IoTOps' teams within these organizations responsible for managing many of these tasks manually, including ensuring devices are online, fixing issues, effecting upgrades, etc. — and they are overwhelmed. With our deep experience in cybersecurity, we were able to quickly expand the platform to meet their full range of operational challenges. The market response has been tremendous," Dagan said.