The Israeli startup that develops a system for securing IoT products has almost doubled its recruitment round since 2019
Source: Vdoo
Israeli cyber startup Vdoo, which develops a system for securing IoT products, announced today (Tuesday) that it will expand its B round of funding by $ 25 million – to a total of $ 57 million. Round B expansion, completed in 2019, was led by Qumra Capital and Verizon Ventures, who joined the company’s existing investors.
Almost doubled the round
Vdoo helps connected device manufacturers improve the security level of their products by automatically analyzing the security gaps of each device. As part of the solution it offers, an analysis of security gaps in IoT devices is performed against the specific security requirements for each device, and a detailed action plan is recommended that is recommended for dealing with these security vulnerabilities – in less than an hour.
The company’s system first analyzes firmware or binaries of any given system. The system extracts relevant features and adapts a dedicated security program to the product, and performs a set of static and dynamic scans to ensure that the security program attached to the product is properly implemented. Then, the system displays all the security findings (backdoors, zero day vulnerabilities, etc.), and next to them a set of instructions on how to solve the same problems. Eventually, the system automatically produces a dedicated agent that protects the system from concrete weaknesses for it, and at the same time against unknown attacks.
Nati Davidi, CEO of Vdoo says In conversation with Giktiim Because since the company’s previous recruitment in 2019, the system they developed has evolved to enable widespread support for “real-time” operating systems and protocols from all industries, allowing them broad penetration into many markets. “The system also now supports modern, software-rich products, such as those that run even applications and containers. Vido’s ability to support a customer who produces a connected product together with all the software periphery that surrounds it, allows the customer all the solutions in one platform, “he added.
On extending the round over a new round, Davidi said that this is a choice that stems, of course, also from the corona eruption. According to him, the joining of the new investors, which brings strategic value in growth to verticals that grow precisely because of the consequences of the crisis, as well as the attractive round conditions led the company to a quick decision: “The round allowed and allows acceleration in growth.”
According to Davidi, in the past year, the company’s customers have been joined by two of the top three telecom players in the US and other key players around the world: “Vdoo’s commercial development, raising additional capital on current terms and expressing investor confidence Davidi.
Vdoo was founded in 2017 by Nathaniel Davidi, Uri Alter and Assaf Kress. The company operates from its offices in Tel Aviv, the United States, Germany and Japan and employs about 90 people. Davidi Walter is also the founders of Cyvera, which was acquired in 2014 by Palo Alto Networks for $ 220 million. To date, the company has raised $ 70 million.
Oshri Alexelsi
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