Rockville, Maryland-based startup Sepio Systems, a rogue device mitigation firm, has raised a further $4 million that supplements the Series A round of $6.5 million announced in November 2019.
The new investment comes from Munich Re Ventures and Hanaco Ventures, bringing the total raised to $15 million. It is, however, more than just a financial investment since Sepio is simultaneously partnering with the Munich Re insurance arm to provide customers with no-cost guarantees for the service it provides.
Sepio has three primary offices: headquarters in Rockville; R&D in Tel Aviv, Israel; and a machine learning center in Lisbon, Portugal. The firm was founded in 2016 by Bentsi Ben-Atar (CMO), Iftah Bratspiess (co-CEO), and Yossi Appleboum (co-CEO). This is the third company the group has founded together since the late 1990s. Before then, all three had all worked within the Israeli intelligence services. The current chairman of the board, Tamir Pardo, was formerly the director of Mossad, while another advisor is a former CISO with the CIA.
The service provided by Sepio is to detect and mitigate any rogue device that has been attached to the corporate infrastructure. This is a growing threat that only a few years ago was limited to adversarial nation-state activity, but is now increasingly being adopted by major criminal gangs.
While logical security -- that is, protecting the flow of data around a system -- is well-served by the cybersecurity industry, there is very little that concentrates on the hardware devices. Sepio Systems detects devices connected to the network that should not be there, whether they ..
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