Securithings Raises $14M Series A for Edge Device Security

SecuriThings Secures $14 Million in Series A Funding

Effectively managing IoT devices within a large enterprise can present significant challenges, particularly when a substantial number operate outside of direct IT control and necessitate integration with various third-party platforms.

SecuriThings aims to address this complexity with a comprehensive service platform designed to centralize control. The startup recently announced the successful completion of a $14 million Series A funding round.

Funding Details and Investors

Aleph spearheaded the investment round, with participation from existing investor Firstime VC and a cohort of undisclosed angel investors.

According to data from Crunchbase, the company’s total funding now reaches $17 million.

Addressing the IoT Management Challenge

Roy Dagan, CEO and co-founder of SecuriThings, highlights the difficulties organizations face when dealing with a diverse array of connected devices operating on their networks.

“We empower organizations to securely manage IoT devices at scale, offering a consolidated and cost-effective solution,” Dagan explained.

Scope of Device Management

This encompasses a wide range of devices, including security cameras, access control systems, and building management systems.

These systems can involve thousands, and in some cases, even tens of thousands, of individual devices.

“Our technology integrates with existing management systems, and we then deploy our capabilities focused on the edge devices.

This approach allows us to discover devices and implement functionalities either directly on the devices or by retrieving information from them,” Dagan clarified.

Strategic Partnerships and Industry Focus

SecuriThings has established partnerships with prominent device manufacturers, including Microsoft, Convergint Technologies, and Johnson Controls.

The company serves a diverse clientele across industries such as airports, casinos, and expansive corporate campuses.

Investor Perspective

Aaron Rosenson, general partner at Aleph, emphasizes the significant problem the company is solving regarding the management of numerous devices within large organizations.

“Prior to SecuriThings, substantial enterprise software categories – automation, orchestration, and observability – remained undeveloped for the IoT space,” Rosenson stated.

He believes SecuriThings is effectively unifying these elements for its customers.

Evolution of the Company

Founded in 2016, the company initially focused on IoT security.

While security remains a core component, their ability to communicate with devices now provides IT departments with enhanced visibility, insight, and the capacity to update and manage these devices.

Future Growth and Customer Base

Currently employing 30 individuals, SecuriThings plans to double its workforce by year-end, fueled by the new investment.

Although specific customer numbers weren’t disclosed, Dagan indicated that they currently serve dozens of customers with contracts ranging from five to seven figures in value.