Viakoo Secures $10M in Series A Funding for Development of Viakoo Action Platform
October 2021 by Marc Jacob
Viakoo announced it has secured $10 million in Series A funding led by Shasta Ventures, joining existing investors Stanley Black & Decker, PivotNorth Capital, and Blue Fog Capital. This latest round will be used to expand executive leadership, and investment in product development and go-to-market. The company is also launching its Viakoo Action Platform™ suite of cyber modules, which remediate and repatriate IoT devices, meeting the growing demand for enterprise IoT device management and vulnerability remediation at scale.
IDC estimates that more than 40 billion connected IoT devices will be operating by 2025, and each one is a potential entry point into a business. However, manually managing device security across multiple locations, which may include cameras, kiosks, intercoms, and other equipment, is impossible at scale. Viakoo confronts the issue of managing outdated and insecure devices and IoT systems, shrinking the massive modern attack surface used for ransomware and data exfiltration of business devices, networks, applications, and private data.
This latest funding round allows the company to put additional development resources behind its Viakoo Action Platform, which delivers remediation and repatriation of IoT devices, enabling them to join or rejoin as a full network citizen replete with an audit trail for governance and compliance. Coupling hundreds or even thousands of devices at a scale, Viakoo automatically discovers, monitors, and updates device firmware, passwords, and network certificates for unlimited devices across an enterprise to keep them operational, reliable and secure. The platform is agentless to work across multi-vendor environments to deliver the real-time view of every IoT device.
Viakoo is partnered with leading IoT discovery tool vendors, and is trusted by customers across mission-critical industries including enterprise, municipal services, government, and healthcare.