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Cybersecurity Funding

Device Authority Raises $7M for Enterprise IoT Identity and Access Management Platform 

Device Authority raises $7 million in a Series A funding round for its enterprise identity and access management for IoT solution.

UK-based device identity management solutions provider Device Authority on Wednesday announced that it has raised $7 million in a Series A funding round led by Ten Eleven Ventures.

The investment will be used to expand the company’s product offerings, as well as its North American presence.

Device Authority specializes in device identity lifecycle management and identity and access management (IAM) solutions for enterprise IoT ecosystems. 

The company’s KeyScaler platform provides automated device provisioning, PKI, identity lifecycle management, continuous assurance and threat validation, data privacy, code signing and secure update, continuous authorization, external threat intelligence, and HSM access control capabilities.

The platform is also available as a service, as a fully-managed hosted solution on Azure.

“The Device Authority team is solving a critical and huge problem in cybersecurity: how to enable complete IoT devices and data trust,” said Ten Eleven Ventures General Partner Dave Palmer.

“Through the company’s KeyScaler platform, the company has developed a comprehensive way in which companies can manage the risks of smart components and ultimately deliver safer products to their consumers,” Palmer added.

Related: Stealth Firm Reken Raises $10 Million Seed Funding

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Related: Bastille Networks Raises $44 Million to Secure Wireless Devices

Related: Software Supply Chain Security Startup Kusari Raises $8 Million 

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.


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