Security concerns are the main factor hampering a boundaryless adoption of the Internet of Things (IoT). The connected nature of devices that bridges the gap between the real and virtual world has huge potential for massive disruptions, due to innumerable loopholes in networks. Simultaneously, it also presents an opportunity that technology companies cannot ignore . A new opportunity lies in the gap between IoT and security, and this is where the modern IoT security startup is gaining attention. We are seeing a number of IoT companies mushrooming, 10 of which command our attention.
1. Argus Cyber Security: A company that focuses on security related to connected vehicles, it offers multi-layered security solutions for automotives. This includes brake protection, door protection, in-vehicle network protection, and driver assistance protection and systems. It also plays in the arena of threat analysis, risk assessment, vulnerability analysis, and code review services, offering them to manufacturers as services. The company recently raised $26 million in Series B funding.
2. Bastille: Bastille claims to be the first cybersecurity company to detect and mitigate IoT threats. It uses airborne emission detection in sensors and security software to scan the IoT environment for threats. It recently won over funding up to $9 million.
3. Bayshore Networks: This is an industrial IoT security specialist. Bayshore uses its cloud software to protect industrial companies against attacks, at the same time offering security detection and management solutions such as technology infrastructure, networks, applications, machines, and employees. Its last funding amounted to $6.6 million, primarily from Trident Capital Cybersecurity.
4. Claroty: Another security specialist in the industrial space, it operates by the motto of "clarity for your OT networks." It has an exclusive platform that monitors, alerts, and manages factory floors from an IoT perspective.
5. CyberX: This IoT security provider operates in the industrial IoT arena, particularly in sectors such as energy, water, manufacturing, transportation, and chemicals. Its advanced XSense platform provides the user security alerts through its dashboard. It utilizes machine learning to detect attacks in real time and reduce operation downtime. Its Series A funding round earned it $9 million in finances.
6. Device Authority: Providing solutions for the industrial, automotive, and healthcare markets, it relies on its Unique KeyScaler technology for securing IoT networks. Some of its strengths are credential management, automated device provisioning, and policy-driven data encryption. Another well-funded startup, it secured $3 million in funding last year from Tern PLC and Alsop Louie Partners.
7. GreatHorn: GreatHorn makes its services available in the promising area of cloud security. It leverages machine learning capabilities to deliver threat detection and response management in cloud systems. Your cloud collaboration tools such as Slack or Office 365 in the cloud are now secure with the GreatHorn Threat Platform. This can be integrated with most communication platforms.
8. Karamba Security: Another startup that deals with automotive security, this Israel-based company delves out security systems by focussing on the externally connected electronic control unit (ECU). It basically operates by sealing connected cars' ECUs in dicey security situations, thereby preventing cyber-attacks.
9. PFP Cybersecurity: A combination of machine learning and analog power analysis renders an intelligent range of IoT security products. The P3Scan cloud-based analytics platform is an example, which provides both cloud and on-premises security management with dashboard visibility, device management, continuous monitoring, and automatic remediation.
10. Rubicon: Designed for customers, this solution provides secure authentication, fingerprint validation, and other means of real-time security for IoT devices and gadgets. These work across a range of sectors—industrial establishments, medical, automotive, payments, and smart buildings.
The opportunity for IoT security startups is ripe. Those that provide end-to-end security detection to remediation and preventive capabilities are sure to taste success, thanks to an increasingly connected world.