Billions of devices are expected to be connected to the internet by 2030, according to Cisco, a chunk of which will be highly vulnerable to intrusion and data breach. Hewlett-Packard Enterprise reported in a recent study that as many as 70% of internet of things (IoT) devices contain well-known exploits. And from 2016 to 2017, Symantec traced a 600% increase in targeted attacks against IoT products.
The voracious appetite for cybersecurity solutions led Firedome, a Tel Aviv- and New York-based startup that initially focused on securing smart home devices, to expand into enterprise and industrial verticals and pursue strategic partnerships with “major” manufacturers. That in turn beguiled investors like Two Sigma Ventures, which recently led a $10 million series A funding round in Firedome with participation from World Trade Ventures and Silvertech Ventures.
It brings the company’s total raised to $14.5 million.
“We were pleased to find out that IoT device companies, across industries, are not willing to compromise the security of their products and are aware of the vulnerabilities that cannot be fully eliminated by static security by design processes,” said CEO Moti Shkolnik, the former head of the Israeli Prime Minister’s Office cyber business unit who cofounded Firedome in 2018. “We were happy to witness the rapid progress of closing partnerships with tier 1 companies, about which we will be able to divulge soon. We strongly believe that real-time endpoint cybersecurity is the inevitable future of the IoT security landscape.”
Above: Firedome’s dashboard.
Image Credit: Firedome
Firedome’s Endpoint Protection suite addresses a ra ..
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