IIoT Security Company Mocana Nets $11M Series F

Mocana, a software and services provider of IoT security solutions for industrial control systems, embedded systems, and the Internet of Things raised $ 11 million Series F on May 16, 2017. The new funding round was led by Sway Ventures, Shasta Ventures, Trident Capital Fund and GE Ventures.

The company which started out in 2004 and boasts more than 200 industrial automation and IoT customers provides a full-stack IoT security engine that can be embedded into endpoints, gateways and cloud servers all the way up to authentication of users. The integrated solution composes of software modules and advanced services.

It secures the industrial control systems through several services including pre-boot verification of firmware; strong cryptography to validate the BIOS, certificates based signing and verification, and platform attestation.

Mocana also launched an IoT Trust Engine which is “an abstraction layer that leverages new security features from chip makers like ARM Ltd. and Intel Corp., coupled with automatic certificate management”, wrote Duncan Riley of Silicon Angle. From system boot up to control system operations, the platform is a unified cyber security solution for IIoT.

The company’s Total Equity Funding $ 76.26M in 8 Rounds from 10 Investors. It also includes a debt-financed round of $ 4.47M in Jan 2015. Postscapes IoT Security Guide can be used to find and compare companies offering IoT security services. Other companies that recently launched their IoT security solutions include Cloudflare Orbit, an IoT security alliance, and Homeland Security Department investing in five IoT security startups.

Postscapes: Tracking the Internet of Things

Bayshore Networks snags $11M to secure Industrial IoT

Bayshore Networks, the New York based provider of cyber protection for industrial infrastructure & IIoT raised $ 11M Series A on March 20, 2017.

Led by Benhamou Global Ventures, this round brings their total funding to $ 15M. The company will use proceeds for developing its industrial cyber protection platform and grow market channels.

The industrial IoT segment is attracting significant funding from venture capitalists as another IIoT security startup Claroty came out of stealth mode and raised $ 32M in Sep, 2016.

Bayshore’s primary product is an IT/OT Gateway for industrial cyber security. The policy enforcement engine of this gateway is called the Bayshore Pallaton. It’s product sheet reveals that “Pallaton inspects & filters application-layer data to detect, segment, block and isolate industrial protocols and applications”.

A major differentiation is the engine’s ability to automatically transform OT data and telemetry into formats used by advanced IT analytics applications. This provides Bahshore Netowork’s industrial clients visibility into their OT networks and applications. It also allows OT to access IT applications such as advanced analytics. The Bayshore IT/OT Gateway integrates with leading software vendors such as SAP and Splunk.

Another of the company’s product is Bayshore SingleKey which deploys from the cloud, via virtual machine, or via on-prem appliance. It plugs into the industrial switch at the choke point in the Data Center giving it access to network traffic. Additionally, it can be deployed inline from a SPAN port.

Postscapes: Tracking the Internet of Things