Viakoo Raises Capital of $10M to Expand International Operations

Viakoo, a leading IoT security provider based in California, raised 10 million dollars through a series of funding that was led by Shasta Ventures and other investors like PivotNorth Capital, Stanley Black & Decker, and Blue Fog Capital. The company mainly automates IoT security for different enterprises.

With the increase in the number of IoT devices in offices and homes, organizations are becoming more concerned about the safety and security of their critical business data. The management of thousands of devices from multiple locations and vendors makes it difficult to quantify vulnerabilities and remediate them. Viakoo offers the appropriate solution to this problem. The company was founded back in 2013 in order to eliminate the hassle of managing the security of the devices manually. Viakoo Action is the agentless software solution offered by the company for effective security management. The platform monitors discover and automatically remediates the existing vulnerabilities for businesses of all sizes.

According to Bud Broomhead, the CEO of Viakoo, Viakoo Action automatically collects and analyses the data of IoT devices and provides a single dashboard summary as well as an integrated data model. The platform operates along with different third-party asset discovery tools such as Forescout and Armis in order to offer a comprehensive view of various IoT devices. Moreover, it also provides the compliance status of the IoT devices. It also evaluates the 802.1x/TLS certificate status, firmware, and password of the IoT devices to ensure appropriate vulnerability remediation for continued operations.

The CEO of Viakoo also added that Viakoo allows the IoT devices to be repatriated to ensure full network citizenship through an understanding of application dependencies for coupled devices. Viakoo has a number of competitors who offer a subset of the capabilities provided by the company. However, there is no competitor of Viakoo that offers the complete suite of different cyber hygiene functions. Viakoo supports loosely coupled and tightly coupled IoT devices.

Viakoo is all set to use its raised capital for increasing its sales and expanding into international operations. The company will make use of the funding in order to avail additional development resources for the software Viakoo Action and expand the executive leadership. However, the CEO of the company did not share any information relating to the manner in which the platform will grow and evolve in the near future.

The IoT security provider, Viakoo, claims that it has gained significant traction from various large-scale customers, including health care, government agencies, data centers, municipal services, education service providers, and other enterprises. The current customer base of the company is more than 100. The increase in digitalization will increase more business opportunities for the company.

With the rapid rise of digitalization, IoT devices are eventually becoming a must-have for every organization in order to stay competitive in the industry. The IoT devices are capable of performing a wide range of functions to ensure smooth operations of businesses. According to the estimates of IDC, there will be over 40 billion IoT devices by the end of 2025.

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