Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybersecurity Funding

NetRise Adds $8 Million in Funding to Grow XIoT Security Platform

XIoT security firm NetRise announced $8 million in additional funding, bringing the total raised by the company to $14 million.

Austin, Texas-based, NetRise, which offers a cloud-based SaaS platform to analyze and monitor the firmware of Extended Internet of Things (XIoT) devices, announced $8 million in additional funding.

The latest investment brings the total amount raised by the company to $14 million.

NetRise helps device manufacturers and enterprises address supply chain risks related to connected devices, which are often a blind spot for security operations and vulnerability management teams.

NetRise says its platform enables continuous monitoring and analysis, compliance assessment and recommendations, real-time-risk tracking, and the generation, storage and management of Software Bills of Materials (SBOMs).

The company says the additional funding will help expand its platform capabilities such as coverage for Windows systems and containers as well as development of additional machine learning models for advanced analysis.

“Firmware security is not a problem that is relegated to a particular vertical or industry. We have built our platform in such a way that support for automotive, networking equipment, consumer IoT, industrial control systems, and medical device firmware alike are all supported.” said Tom Pace, co-founder and CEO of NetRise. “While working at the Department of Energy, I saw firsthand how little insight we had into the vulnerabilities and risks embedded in technology critical to every aspect of our daily lives. Our vision is that every technology user understands the ingredients in their tools and the potential implications of those components, no matter the source.”

The latest funding round was led by Squadra Ventures, with participation by existing investors Miramar Digital Ventures, Sorenson Ventures and DNX Ventures.

Pace presented on “Public Data Source Vulnerability Identification of ICS Devices and its Shortcomings” at SecurityWeek’s 2022 ICS Cybersecurity Conference in Atlanta, which can be viewed below.

Advertisement. Scroll to continue reading.
Presentation from SecurityWeek’s 2022 ICS Cybersecurity Conference: “Public Data Source Vulnerability Identification of ICS Devices and its Shortcomings.”
Written By

For more than 15 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

Click to comment

Trending

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.

Understand how to go beyond effectively communicating new security strategies and recommendations.

Register

Join us for an in depth exploration of the critical nature of software and vendor supply chain security issues with a focus on understanding how attacks against identity infrastructure come with major cascading effects.

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.

Cybersecurity Funding

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

Cyber Insurance

Cyberinsurance and protection firm Boxx Insurance raises $14.4 million in a Series B funding round led by Zurich Insurance.

Cybersecurity Funding

2022 Cybersecurity Year in Review: Top news headlines and trends that impacted the security ecosystem

Cybersecurity Funding

Network security provider Corsa Security last week announced that it has raised $10 million from Roadmap Capital. To date, the company has raised $50...

ICS/OT

The overall effect of current global geopolitical conditions is that nation states have a greater incentive to target the ICS/OT of critical industries, while...

CISO Strategy

Cybersecurity-related risk is a top concern, so boards need to know they have the proper oversight in place. Even as first-timers, successful CISOs make...