Viakoo, booth 30087, announced it has secured $10 million in Series A funding led by Shasta Ventures, joining existing investors Stanley Black & Decker, PivotNorth Capital and Blue Fog Capital. This latest round of funding will be used to expand executive leadership, and investment in product development and go-to-market.
The company is also launching its Viakoo Action Platform suite of cyber modules, which remediate and repatriate IoT devices, meeting the growing demand for enterprise IoT device management and vulnerability remediation at scale. The platform will be on display at this year’s ISC West.
“With support from our investors, Viakoo is entering its next chapter of growth to achieve its vision of helping customers defend their IoT attack surfaces across the enterprise,” said Bud Broomhead, CEO, Viakoo. “We’ve already gained significant traction with large-scale customers, including cities, healthcare, education, and large data centers. With our latest investment, we are now in an excellent position to extend our leadership in IoT device vulnerability remediation.”
IDC estimates that more than 40 billion connected IoT devices will be operating by 2025, and each one is a potential entry point into a business. However, manually managing device security across multiple locations, which may include cameras, kiosks, intercoms, and other equipment, is difficult at scale. Viakoo confronts the issue of managing outdated and insecure devices and IoT systems, shrinking the modern attack surface used for ransomware and data exfiltration of business devices, networks, applications and private data.