IoT security firm Viakoo raises $10M

In a series A round of funding led by Shasta Ventures, IoT device remediation company Viakoo has secured $10 million in funding. The California-based firm is hoping to capitalise on the growth of IoT devices and the accompanying need to secure network data.

Part of the money will be spent on investment in product development, as well as expanding the executive leadership team. Existing investors in Viakoo include Stanley Black & Decker, PivotNorth Capital and Blue Fog Capital. According to estimates from IDC, more than 40 billion connected IoT devices will be found across the world by 2025, illustrating the sheer number of entry points criminal agents have. Reducing the surface area that hackers can use goes a long way to securing the enterprise IoT environment.

“With support from our investors, Viakoo is entering its next chapter of growth to achieve its vision of helping customers defend their IoT attack surfaces across the enterprise,” said Bud Broomhead, CEO, Viakoo. “We’ve already gained significant traction with large-scale customers, including cities, healthcare, education, and large data centres. With our latest investment, we are now in an excellent position to extend our leadership in IoT device vulnerability remediation.”

There’s no question that securing the network perimeter has become increasingly difficult in recent years, with the proliferation of IoT devices contributing to this issue. Even the most adept IT teams will face an uphill battle trying to secure an organisation that has outdated IoT infrastructure.

By offering an intuitive IoT platform, Viakoo is working to give each business the ability to protect itself against damaging vulnerabilities. Since its founding in 2013, Viakoo’s product has automatically monitored all IoT devices a client has connected to the platform and offered a real-time view of every device.