Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Application Security

Corellium Lands $25 Million Investment for Virtualization Tech

Fresh off a high-profile legal triumph over Apple, virtualization technology startup Corellium is now enjoying the attention of investors with Paladin Capital Group leading a $25 million funding round.

Fresh off a high-profile legal triumph over Apple, virtualization technology startup Corellium is now enjoying the attention of investors with Paladin Capital Group leading a $25 million funding round.

Corellium, a Florida-based company with its roots in the iPhone jailbreaking community, said the $25 million Series A also included investments from Cisco investments and other strategic investors.

Corellium LogoThe money comes exactly a year after a federal judge dismissed Apple’s copyright lawsuit against Corellium and the two sides reached a settlement on another matter related to alleged DMCA (Digital Millennium Copyright Act) violations. Apple is currently appealing the copyright infringement ruling.

While the company is most known for its impressive iOS emulator, Corellium chief executive Amanda Gorton said there’s a massive untapped market for virtualization and software modeling technology on Arm-based mobile and IoT devices.

In an interview, Gorton said Corellium’s modeling of IoT devices (think smart speakers or home camera systems) is being used to create precise replicas of physical devices for R&D, code testing and security research. 

She said Corellium is specifically angling towards the IoT space where billions of Arm-powered physical devices have become a pervasive part of everyday life.

[ READ: Apple Loses Copyright Suit Against Security Startup ]

Corellium and its investors are betting on a burgeoning market for virtualization technology to facilitate R&D activity, security research and DevSecOps testing in the Arm ecosystem.

“Corellium’s Arm-native cloud platform enables developer and security teams to run highly accurate, scalable, and performant full-stack virtual models of mobile apps, OS firmware, and device hardware,” the company said in a note announcing the investment. 

Because the models run natively on Arm, Gorton said developers can run production code with native-like speed without making changes.  “[The] virtual environment vastly improves and accelerates end-to-end development, testing, and security acceptance lifecycles.”

Paladin Capital Group managing director Mourad Yesayan said the Corellium bet was based on an obvious untapped market for effective full-stack system testing technology.

“In a world of increasing security threats, malware attacks, and dynamic security regulations, effective full-stack system testing — apps, firmware, and hardware — is more critical and complex than ever,”  Yesayan added. “Corellium provides the tools [to DevSecOps teams] in a scalable, repeatable, high-performance, high-accuracy, and cost-effective solution.”

Along with the funding, Corellium also announced the addition of former Citrix chief executive Mark Templeton to its board of directors.  

Related: Mobile Platforms ‘Actively Obstructing’ Zero-Day Malware Hunters

Related: Apple Sues Corellium Over Security Research Tool

Related: Corellium Says Apple Sued After Failed Acquisition Attempt

Related: Apple Loses Copyright Suit Against Security Startup

Written By

Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. He is a security community engagement expert who has built programs at major global brands, including Intel Corp., Bishop Fox and GReAT. Ryan is a founding-director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world.

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join this webinar to learn best practices that organizations can use to improve both their resilience to new threats and their response times to incidents.

Register

Join this live webinar as we explore the potential security threats that can arise when third parties are granted access to a sensitive data or systems.

Register

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Vulnerabilities

Less than a week after announcing that it would suspended service indefinitely due to a conflict with an (at the time) unnamed security researcher...

Data Protection

The CRYSTALS-Kyber public-key encryption and key encapsulation mechanism recommended by NIST for post-quantum cryptography has been broken using AI combined with side channel attacks.

Data Protection

The cryptopocalypse is the point at which quantum computing becomes powerful enough to use Shor’s algorithm to crack PKI encryption.

Cybercrime

The changing nature of what we still generally call ransomware will continue through 2023, driven by three primary conditions.

Cyberwarfare

WASHINGTON - Cyberattacks are the most serious threat facing the United States, even more so than terrorism, according to American defense experts. Almost half...

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Application Security

PayPal is alerting roughly 35,000 individuals that their accounts have been targeted in a credential stuffing campaign.