IoT Security Startup Axonius Raises $4 Million

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Axonius, a Tel Aviv, Israel startup specializing in IoT security, has raised $4 million in seed funding, the company announced on Sept. 7. YL Ventures lead the financing round, with additional backing from Vertex Ventures and Emerge.

The Axonius software platform extends network visibility and control to networks, allowing IT departments to address potentially risky blind spots introduced by the rapid adoption of Internet of Things (IoT) devices. Using an adapter API (application programming interface) and plug-in framework, Axonius integrates with all types of devices and management platforms, according to the company.

"We are experiencing a Cambrian-like explosion on our networks," said Yoav Leitersdorf, managing partner at YL Ventures, referencing the burst in lifeform diversity that occurred on Earth over half a billion years ago, in a statement. "Mobility, cloud and IoT are creating a near exponential increase in the types and numbers of user, compute and new devices connecting to enterprise networks. With this explosion comes the inherent cyber risk associated with the lack of visibility, security and control."

Sysman, CEO and co-Founder of Axonius, said he formed the company to help organizations "catalyze and accelerate adoption and innovation, while maintaining the necessary security and control they need protect and safeguard the organization and its assets," in a blog post.

The company is currently offering early access to its platform by request. General availability is planned for early 2018.

Keeping IoT-enabled networks safe from attackers is quickly becoming a priority for enterprises, and security vendors are responding.

In the wake of the recent WannaCry ransomware outbreak, ZingBox announced in July that it was offering its IoT security solution to healthcare originations at no cost for a limited time. While WannaCry generally affected PCs, other networked medical equipment, including life-saving devices, may be at risk.

"Any connected medical devices with browser capabilities are vulnerable to the latest threats from Hidden Cobra. However, a more common scenario is one in which PCs or laptops are connected to the same network as the connected medical devices," said Xu Zou, CEO and co-founder of ZingBox.

In April, Cloudflare announced a new service called Orbit that allows businesses to block dangerous traffic to IoT devices, providing an extra level of protection. Users can create new custom traffic detection and filtering rules and propagate them to the cloud data centers hosting the service in as little as 30 seconds.  

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