IoT Startup Raises $10M

Automated IoT visibility company Viakoo raised a $10 million series A funding round from investors including Stanley Black & Decker.

Venture capital firms Shasta Ventures, PivotNorth Capital and Blue Fog Capital also took part in the round.

The proceeds are set to fuel product development, preparations for market launch and new executive hires.

Stanley Black & Decker runs more than 130 manufacturing plants and has turned to IoT sensors to help streamline operations.

The company uses Microsoft’s Azure IoT Hub and Azure IoT Hub to boost equipment, cost and factory efficiency.

Viakoo was founded in 2013 and makes products for IoT system security by automatically discovering each endpoint’s firmware, passwords and network certificates.

Managers can also use the interface to access a real-time snapshot of how each IoT device is running and auditing tools that keep track even when a device has been disconnected.

By making antiquated or heterogeneous IoT systems more manageable, the aim is to reduce the attack surface provided for cyber criminals by leaky defenses around the connected perimeter.

“Today’s enterprises are experiencing cyber vulnerabilities caused by thousands of unmanaged and IoT devices that keep their employees and facilities secure, and perform critical functions to ensure the business or facility runs smoothly,” said Nitin Chopra, managing director for Shasta Ventures.

“Viakoo enables organizations to secure, manage and remediate both loosely and tightly coupled devices like medical equipment, point-of-sales systems, HVAC, video security and other IP-based systems at scale.”