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SecuriThings Brings Order to IoT Device Management with $21M Investment • TechCrunch

SecuriThings Brings Order to IoT Device Management with M Investment • TechCrunch

SecuriThings Brings Order to IoT Device Management with $21M Investment • TechCrunch

As companies implement more security devices like cameras, access control systems, intercoms and many other tools in their organizations, they are often disconnected from traditional IT and may lack any way to manage the equipment in a systematic way. SecuriThings has built a solution to solve this problem with a platform that helps buildings understand and control what is happening on physical security devices across the enterprise.

Today, the company announced a Series B of $21 million.

Roy Dagan, the company’s CEO and co-founder, says that while companies are spending huge amounts of money on this equipment, they often don’t know if it’s working at all because they lack visibility. “We’ve built a state-of-the-art system to help them automate the management of these devices at scale, and really provide the equivalent of an IT type of system to manage these devices,” Dagan told TechCrunch.

The system automates a bunch of management tasks that are usually done manually, including firmware upgrades, certificate management, and password rotation. Moreover, it can help find and fix problems with these devices when they occur.

“It can also do things like root cause analysis. So we can tell when there’s a problem and we can tell you what’s wrong,” he said.

“You might think it’s a [camera]but it’s actually a switch and it affects the 15th [cameras]which are all down.

And that’s a problem because while building operations manages broken cameras, a broken switch is the responsibility of IT, and they need to know about it in order to fix it. SecuriThings includes ways to communicate with IT about these issues.

“You can collaborate with your colleagues in IT. So it can integrate with ServiceNow or other ticketing systems…and that helps you start working better with the rest of the business,” said Dagan.

He believes that despite the economic uncertainty we’re seeing, his company is well positioned to handle it. “One of the great business outcomes is actually cost reduction. Because if you look at the enterprise, and you look at the amount they’re spending today on these devices, and the way things are done manually and reactively, it’s almost negligible. The savings are huge,” he said.

While he wouldn’t discuss revenue growth, he said the company currently has dozens of clients using the platform and that the number of customers has grown over 300% in a year.

The startup currently has 70 employees, with plans to further increase with a new investment. He says diversity is built into the company’s values. “So it’s just part of our culture and the core of the company. It really is, and just looking at the statistics we have today, where 40% of the leadership is female and 40% of the company is female…But then our HR team is constantly crunching the numbers and looking at different opportunities and how we make that diversity even more,” he said. is he.

Today’s investment was led by US Venture Partners (USVP) with participation from Swisscom Ventures and existing investors Aleph, Firstime VC and Cresson Management. The startup reports that it has now raised a total of $39 million.



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