Sepio Systems Announces Additional Funding to Continue Acceleration of Innovation and Global Expansion
Following the recent Series A round, Sepio secured an additional $4 million from Munich Re Ventures and Hanaco Ventures, which brings the total investment in the company to $15 million.
ROCKVILLE, Md., March 25, 2020 /PRNewswire/ -- Sepio Systems, the leader in Rogue Device Mitigation (RDM), announced today the company has taken on additional funding by lead investor Munich Re Ventures (MRV) to accelerate the company's innovation and expand into new regions of the globe. Following the recent Series A round, Sepio secured an additional $4 million from Munich Re Ventures and Hanaco Ventures, which brings the total investment in the company to $15 million.
"Sepio is filling a critical gap in hardware security by providing visibility and management of attacks from an organization's network to its physical layer," said Jacqueline LeSage Krause, Managing Director, Munich Re Ventures. "Sepio's ability to fingerprint physical devices and detect rogue behavior is attracting interest from global organizations seeking to understand what rogue devices are living in their walls and on their networks. We look forward to working with Sepio on growing their market presence and product offering."
In parallel to the investment, Sepio has worked with Munich Re's New Technologies and AI Underwriting team, where the reinsurance leader has validated Sepio's innovative approach to rogue device mitigation to decrease the customer's overall hardware security risk. Sepio will provide a performance guarantee to its customers backed by a subsidiary of Munich Re.
"Our ability to offer instant detection and response to any threat or breach attempt coming from infected or manipulated devices has set Sepio apart and created incredible interest from the investment and customer community," said Yossi Appleboum, Co-Founder & CEO, Sepio Systems. "With a new R&D center in Lisbon and our expansion to Europe, with offices opening in the United Kingdom and Germany, Sepio is growing at an exponential rate and this additional funding is fueling that growth. Our partnership with Munich Re continues to expand our presence globally and highlights the synergy between insurance and RDM."
From financial services institutions to political campaigns, the prominence and risk of rogue devices is apparent. Sepio is partnering with customers to assess the volume, type and behavior of standard hardware devices, like keyboards, USBs, desktop boxes, and more. Once these devices are identified, Sepio provides security teams with full visibility into how these devices are behaving in real time, leading to the ability to easily define granular device usage rules to continuously monitor and protect IT infrastructure. The company's software-only solution leverages a combination of physical fingerprinting technology together with device behavior analytics.
"Sepio's technology was deeply explored by our specialists and we found it superior to existing rogue device detection and mitigation techniques." said Dr. Andre Knoerchen, Head of New Technologies and AI Underwriting, Munich Re. "This partnership is just the first step in a long and collaborative relationship where customers will benefit from Sepio's ability to create unique and innovative solutions to secure hardware devices while being backed by Munich Re's performance guarantee insurance."
About Sepio Systems
Sepio is disrupting the cyber-security industry by uncovering hidden hardware attacks. Sepio Prime provides security teams with full visibility into their hardware assets and their behavior in real time. A comprehensive policy enforcement module allows administrators to easily define granular device usage rules and continuously monitor and protect their infrastructure. Leveraging a combination of physical fingerprinting technology together with device behavior analytics, Sepio's software-only solution offers instant detection and response to any threat or breach attempt coming from a manipulated or infected element. Learn more: www.sepio.systems
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SOURCE Sepio Systems
