Firedome Raises $10M to secure IoT Devices against Hacking

Billions of devices are expected to be connected to the internet by 2030, according to Cisco, a chunk of which will be highly vulnerable to intrusion and data breach. Hewlett-Packard Enterprise reported in a recent study that as many as 70% of internet of things (IoT) devices contain well-known exploits. And from 2016 to 2017, Symantec traced a 600% increase in targeted attacks against IoT products.

The voracious appetite for cybersecurity solutions led Firedome, a Tel Aviv- and New York-based startup that initially focused on securing smart home devices, to expand into enterprise and industrial verticals and pursue strategic partnerships with “major” manufacturers. That in turn beguiled investors like Two Sigma Ventures, which recently led a $10 million series A funding round in Firedome with participation from World Trade Ventures and Silvertech Ventures