NetRise, an Austin, TX-based company providing visibility into the world’s XIoT security problem, raised $8M in funding.
The round was led by Squadra Ventures, with participation from existing major investors Miramar Digital Ventures, Sorenson Ventures and DNX Ventures.
Led by Tom Pace, co-founder and CEO, NetRise has developed a cloud-based SaaS platform that analyzes and continuously monitors the firmware of Extended Internet of Things (XIoT) devices to enable device manufacturers and enterprise customers to detect, respond to, and prevent threats throughout their supply chains.
The company intends to use the funds to expand its platform capabilities such as coverage for Windows systems and containers as well as development of additional machine learning models for advanced analysis.
By adding these additional capabilities, NetRise will continue to help both enterprise and device manufacturer customers to understand what’s inside not only their devices, but their entire software supply chain to identify potential risks and vulnerabilities.
FinSMEs
25/04/2023