The Internet of Things (IoT) is a big deal. A really big one.
There are approximately 8 billion connected devices on the market today, collectively accounting for 50 percent of internet traffic. And that is but a taste of the future—the number of devices is anticipated to increase 150 percent in the next three years. And where growth like that is predicted, every man and his dog is keen to grab market share. The security for IoT space is no different.
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There are some justified reasons why security in this new IoT context will be different. Connected devices (e.g., laptops, webcams, HVAC systems, etc.) are designed to connect wirelessly, without corporate oversight or control. This creates a dynamic, ever-expanding matrix of connections that not only boosts employee productivity and business efficiency, but simultaneously flies under the radar of security.
So, if you’re a business leader, you have a conundrum. All those connected devices unlock massive value and potential, but they also lead to a variety of new security threats which need to be resolved.
Armis’ IoT security solution
That is where Armis comes in. The company is bringing to market a solution that it says will resolve these glaring IoT security issues. And it has some high-profile backers to do so. The company is announcing $17 million in funding led by none other than Sequoia Capital and Tenaya Capital. It is using its funding news to leverage its way into a public unveiling at the Gartner Security and Risk Management Summit occurring next week.
In terms of what it actually does, Armis provides an agentless IoT security platform that lets enterprises see and control any device or network. Allegedly frictionless to deploy, the solution integrates with existing IT infrastructure and gives businesses visibility into and management over devices, whether on or off the corporate network. The value proposition being that with Armis, enterprises are able to gain the productivity benefits of using IoT devices without sacrificing security.
“Enterprise security has a huge blind spot,” said Yevgeny Dibrov, CEO and co-founder of Armis. “The recent botnet attacks like Mirai and Persirai show how new IoT devices are being exploited and attacked. We built Armis to give enterprises complete visibility into which devices are in their environment and track their behavior. We can stop devices from connecting to an inappropriate network or those exhibiting anomalous behavior, regardless of whether those devices are managed by IT or not.”
The company has a well-heeled story. Founded in late 2015 and headquartered in Palo Alto, California, with an office in Tel Aviv, the Armis team is composed of engineering talent from Israel and experienced Silicon Valley technology leaders. Dibrov was on the executive team at Adallom, which was acquired by Microsoft in 2015. He met co-founder and CTO Nadir Izrael when they served together on the selective and oft-mentioned Unit 8200 of the Israeli Defense Forces, whose alumni also founded Check Point, Waze (acquired by Google) and Wix.
Armis looks to have the right backers, the right story and the right industry credibility to execute. It will be interesting to watch the company’s progress.