SecuriThings brings order to IoT device management with $21M investment – ​​TechCrunch


As companies increasingly deploy 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 everything. way to manage the equipment in a systematic way. SafeThings has designed a solution to address this issue with a platform that helps construction operations understand and control what is happening to physical security devices in a business.

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

Roy Dagan, the company’s CEO and co-founder, says that even though companies spend outrageous amounts on this equipment, they often don’t know if it’s even working because they lack visibility. “We’ve built the ultimate system to help them automate the management of these devices at scale and really provide the equivalent of a type of computer system to manage these types of devices,” Dagan told TechCrunch.

The system automates a set of management tasks that are typically done manually, including firmware upgrades, certificate management, and password rotation. Plus, it can help find and fix issues with those devices as they arise.

“It can also do things like root cause analysis. So we can tell when something is wrong and we can tell you what’s at fault,” he said.

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

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

“You can collaborate with your IT counterparts. So it can be integrated with ServiceNow or other ticketing systems…and it also helps you work better with the rest of the business,” Dagan said.

He believes that despite the economic uncertainty we are experiencing, his company is well positioned to weather it. “One of the best business outcomes is really about cost reduction. Because if you look at the company, and you look at the amount of spend they have today on these devices, and the way things are done manually and reactively, it’s almost a no-brainer. The savings are huge,” he said.

While he doesn’t discuss revenue growth, he said the company currently has dozens of customers using the platform and the number of customers has increased by more than 300% year over year. other.

The startup currently has 70 employees and plans to add more with the new investment. He says diversity is part of the company’s values. “So it’s part of our culture, and it’s at the heart of the business. It really is, and just look at the stats we have today where 40% of the leadership is female and 40% of the company is female… But also our HR team is constantly evaluating the numbers and looks at different opportunities and how we create that diversity even more,” he said.

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


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