Firmware security startup NetRise emerges from stealth with $6.8m seed round
NetRise, the company solving the world's firmware security problem, has emerged from stealth by closing their $6.8 million Seed Round led by Miramar Digital Ventures, with Sorenson Ventures, DNX Ventures and multiple strategic angels rounding out the syndicate.
Founded by cyber experts from Cylance and Tanium - Tom Pace and Michael Scott have built an elite team of top industry veterans to take on the rapidly growing threat posed by insecure firmware across every industry. Tom and Michael encompass a rare combination that possesses deep traditional and IoT security experience as well as enterprise product development and significant GTM expertise.
Tom Pace, Co-founder & CEO, NetRise: "Software may have eaten the world, but it is firmware that connects everything - it's the trusted foundation for every hardware device. With 80% of enterprises experiencing firmware attacks since 2019, it's clear that most organizations are left blind and vulnerable to the risks posed by IoT, ICS, medical devices, telecommunications equipment, satellites, and even embedded systems running in vehicles."
The NetRise Turbine platform empowers organizations with complete visibility into their device ecosystem, continuously identifying and prioritizing firmware vulnerabilities automatically by leveraging machine learning models. This significantly reduces risk exposure and allows critical resources to focus on other priorities.
Michael Scott, Co-founder & CTO, NetRise: "Traditional security products only focus on the operating systems and configuration settings of these devices while neglecting the actual firmware – the NetRise Turbine platform changes the firmware security analysis game entirely. By analyzing the firmware of these devices, we are able to get a comprehensive picture of what is on the device, how it works and the risk it provides to the end-user and/or manufacturer."
The initial round will facilitate product development advancements, channel relationships, go-to-market sales, and building a world-class team.
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