The wave of security startups has built solutions for businesses that address the "consumerization" challenge. IT organizations need to securely manage the various devices and applications brought by their employees, not the IT department. network. Similar Israeli-based ventures today are taking a similar approach, but are announcing financing aimed at consumers and a myriad of devices currently connected to home networks. SAM, which provides systems managed through home or small office / home Internet routers to monitor connected devices for suspicious activity, raised $ 12 million in funds.
Series A includes interesting strategic investors. This round, led by Intel Capital, includes participation by Blumberg Capital and home security giant ADP NightDragon, a cyber security centric VC established by FireEye and former CEO of McAfee, Dave DeWalt.
Intel is already integrating SAM's technology into its hardware and ADT is currently evaluating how to do it. Before co-founding SAM and CTO Eilon Lotem, Siban Rauscher, CEO of Cyber Security at the Israeli army, Sivan Rauscher). Vice Chairman Shmuel Chafets.
Before the start of the round, SAM received $ 4 million from Stealth sponsors for the first time in February 2018, including co-founders Nadav Zafir, Israel Grimberg and Team8, a well-supported VC company incubator serving as advisor to Liran Grinberg . start.
SAM is one of the reasons why we have to do funding relatively quickly because we already have signed some deals and are entering the market. Rauscher said the first services using startup technology will soon be put to practical use in Germany, Belgium and the United Kingdom. (She said she "refused to reveal the name of the carrier because she wanted to keep her element of surprise.") She was already deployed on about 4 million devices via Israeli news agency Bezeq.
It is noteworthy that the company is targeting the corporate market with the most talented people and companies in the world of cyber security. This is not surprising because it is typically a large and complex network. More data is at greater risk.
(SAM also has an agenda to protect consumers as well as end users, in order to provide services to consumers alongside carriers, Rauscher said.
SAM is entering the market in a critical time.
Your home network includes phones, laptops, and tablets, as well as various devices. Set-top boxes, home security systems, lighting and fire detection, home hubs, and connected devices. Gartner estimates more than 7 billion connected devices in the consumer market this year, up to 12.9 billion by 2020.
But it is also an urgent matter that the home router described by Rauscher as "low hanging fruit" can be the target of a malicious hacker. Earlier this year, according to Akamai's report, it is estimated that hackers have accessed 65,000 home routers. The US and British governments warned that Russian hackers are waiting for long – term cyber – war operations using routers that have been compromised.
In that context, the concept of home router security may not sound like a profitable goal compared to millions of dollars in enterprise contracts (billions of dollars and thousands of data points hang around), but the wider issue is obviously addressing issues.
In a nutshell, Rauscher added that it should also be noted as one of the few female founders in the cyber security world. SAM A device that connects to a router by identifying and providing security wrappers to everyone, even though work is done via routers.
"Our software is invisible to home routers. Protecting your router can safeguard everything on your network." The key to SAM is to search for suspicious links to these devices. It is blocked when detected and provides an enterprise-style deployment that is essentially designed to act as an IT department or operate at home.
"We were impressed with SAM's technology and home network security standards," said Dave Flanagan, vice president and general manager of Intel Capital Group, Intel Capital. "We bought a new gateway or replaced it with a security gateway. Unlike traditional solutions, SAM's solution provides end-user security without having to do anything. In addition, the AI and machine learning capabilities of telcos and ISPs monitor network activity to detect unusual activity and prevent attacks. By 2020, global markets for smart home technology are expected to reach $ 100 billion, and Intel and its partners know security is essential. "