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Saturday, August 19, 2017

Zingbox raises $22m to automate IoT security with AI

By Nick Flaherty

Stanford spin-out ZingBox has raised $22m to roll out its artificial intelligence software to identify attacks and take the tech out of IoT security. 

The funding, the company's second round, was led by Dell Technologies Capital and Triventures.

Zingbox claims its IoT Guardian software is the industry’s only IoT security solution based on device personalities. It uses machine learning algorithms to discover and assess the baseline normal behaviour of an IoT node, detect anomalous activities and provide real-time protection across an organization’s entire IoT footprint. The patent-pending system has a model of each IoT device’s 'personality', analysing communication to and from every device, watching constantly for deviations in behaviour and providing alerts for any suspicious behaviour.

“Dell Technologies Capital invests in innovative founders and companies that can use our technical resources and unique go-to-market channels to bring their breakthrough technology to customers around the globe,” said Raman Khanna, managing director of Dell Technologies Capital. “As more and more hospitals, retailers and businesses deploy IoT solutions, security is top of mind and ZingBox’s machine-learning approach to IoT security helps them address this fundamental challenge.”

“The company brings the right solution at the right time for healthcare organisations that need real time visibility and cyber protection to optimise operations and provide uninterrupted, quality patient care,” said Dr. Peter Fitzgerald, Co-Founder & Managing Partner of Triventures. “ZingBox’s deep and unique understanding of IoT and medical device behaviour delivered in a seamless SaaS solution will be a gamechanger for its customers.”

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