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JFrog Ltd (FROG) Q2 2021 Earnings Call Transcript
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DevOps platform JFrog acquires AI-based IoT and connected device security specialist Vdoo for $300M – TechCrunch
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Vdoo raises $25M more to develop its AI-based security for IoT and connected devices
It’s estimated that there were some 50 billion connected devices globally in 2020, and while that really says a lot about how far we’ve come in tech, for many it also speaks to a big issue: security vulnerabilities, with the devices themselves, plus all the components and services running on them, all potential targets for anything from malicious hackers to not-so-intentional data leaks.
Today, Israeli startup Vdoo which has been developing AI-based services to detect and fix those kinds of vulnerabilities in IoT devices is announcing $25 million in funding, money that it plans to use to help it better address the wider issue as it applies to
Israeli IoT security co Vdoo raises $25m
The Tel Aviv-based company s automated product security platform for device manufacturers and deployers performs a complete security assessment in minutes.
Israeli automated security platform for IoT and embedded software developer Vdoo today announced that it has extended its Series B financing round by raising an additional $25 million led by Qumra Capital, Verizon Ventures, and others. This brings to $57 million the amount raised in the Series B round and to $70 million the amount raised since the company was founded. The Tel Aviv-based company was founded by CEO Netanel Davidi, president Uri Alter and CTO Asaf Karas.
Verizon Ventures led the Series B extension. The number of connected IoT devices is rapidly growing, creating greater opportunities for security breaches, said Boaz Dinte, Managing Partner of Qumra Capital that led the round. Vdoo s unique device-centric, deep technology automated approach has already brought immediate value to vendors in a very short period of time. We believe the market opportunity is huge, and with newly infused growth capital, Vdoo is well-positioned to become the leading global player for securing connected devices.
Almost doubled the round
Vdoo delivers the industry’s leading automated product security platform for device manufacturers. The company s platform performs a complete security assessment in minutes, providing a comprehensive report identifying zero-day vulnerabilities, CVEs, configuration and hardening issues, standard incompliances, and other security exposures with suggested prioritization and remediation mechanisms.
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