IoT remediation startup Viakoo raises $10M for product development
“Internet of things” remediation startup Viakoo Inc. has raised $10 million in new funding to expand its headcount and invest in product development and go-to-market.
Shasta Ventures led the Series A round. Also participating were Stanley Black & Decker, PivotNorth Capital and Blue Fog Capital.
Founded in 2013, Viakoo offers an enterprise IoT platform that targets and protects against vulnerabilities across the full IoT spectrum. The company rightly notes that cybersecurity vulnerabilities are introduced into an enterprise by thousands of IoT devices that range from keeping in contact with employees to keeping facilities secure, patients alive and dozens of other critical functions.
The company’s product automatically discovers, monitors and updates device firmware, passwords and network certificates for unlimited devices across an enterprise to keep them operational, reliable and secure. The platform is agentless to work across multivendor environments to deliver the real-time view of every IoT device.
Along with the funding announcement, Viakoo is also launching its Viakoo Action Platform into general availability. The Viakoo Action Platform offers a suite of cybersecurity modules which remediate and repatriate IoT devices, meeting the growing demand for enterprise IoT device management and vulnerability remediation at scale. The platform includes support for firmware patching, certificate management, password enforcement and service assurance to help remediate device vulnerabilities.
“We’ve already gained significant traction with large-scale customers, including cities, healthcare, education and large data centers,” Bud Broomhead, chief executive officer of Viakoo, said in a statement. “With our latest investment, we are now in an excellent position to extend our leadership in IoT device vulnerability remediation.”
The new funding will be used by Viakoo to further develop its platform with additional development resources to deliver remediation and repatriation of IoT devices. The aim is to enable IoT devices to join or rejoin as a full network citizen replete with an audit trail for governance and compliance.
Nitin Chopra, managing director of early-stage venture capital firm Shasta Ventures, told SiliconANGLE that “today’s enterprises are experiencing cyber vulnerabilities caused by thousands of unmanaged and IoT devices that keep their employees and facilities secure, and perform critical functions to ensure the business or facility runs smoothly.”
“Viakoo enables organizations to secure, manage, and remediate both loosely and tightly coupled devices like medical equipment, point-of-sale systems, HVAC, video security and other IP-based systems at scale,” Chopra added.
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