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IoT cybersecurity startup Ordr raises an additional $6M
“Internet of things” cybersecurity platform startup Ordr Inc. today said it has raised an additional $6 million in funding to help it implement preventative security programs for enterprise IoT and unmanaged devices.
The funding was an extension of the Series B round of announced in December. Joining the round were the Mayo Clinic and Kaiser Permanente Ventures.
Founded in 2015, Ordr focuses on cybersecurity for IoT devices. The company offers what it describes as a “unique touchless approach to proactive security within the enterprise” through its Systems Control Engine. The company said the platform fully maps every device across a given enterprise, using machine learning to continuously inspect each device while measuring behavior to detect security issues. The SCE can build a baseline understating of connected devices to flag suspicious devices in real time, operating on top of existing network and security infrastructure.
“The number of IoT devices is rapidly expanding across all industries and with it the potential for data breaches,” Daniel van den Bergh, principal at Kaiser Permanente Ventures, said in a statement. “It is critical for healthcare organizations to be proactive in securing such devices and the network on which they operate, to protect the patients who depend on them.”
Although healthcare is one use for the company’s technology, it can also be used in manufacturing, distribution and retail where mission-critical legacy networks are conducive to automated, set-it-and-forget-it solutions such as SCE.
Ordr said it has annual recurring revenue growth of 1,000%, though it doesn’t provide absolute numbers. The number of enterprise customers has risen fivefold in the last 12 months. Customers include ProHealth Care, Beebe Healthcare, Mercy Care, Next Wave Health Advisors and Huntzinger Management Group Inc.
Including the additional money, Ordr has raised $50 million to date. Previous investors include Battery Ventures, Wing Venture Capital, 1011 Ventures, TenEleven Ventures and Unusual Ventures.
