NetRise, an Austin-based company that specializes in developing a cloud-based Software-as-a-Service (SaaS) platform for analyzing and continuously monitoring the firmware of Extended Internet of Things (XIoT) devices, has announced that it has secured $8 million in funding. Squadra Ventures led the funding round, with participation from major investors such as Miramar Digital Ventures, Sorenson Ventures, and DNX Ventures.
With the latest funding, NetRise will extend its platform capabilities to cover Windows systems and containers, and the company will develop additional machine-learning models to support advanced analysis. The NetRise platform is designed to ensure firmware security across various industries, such as automotive, networking equipment, consumer IoT, industrial control systems, and medical device firmware.
Tom Pace, the co-founder, and CEO of NetRise, stated that firmware security is a concern that affects every industry and vertical.
“Our vision is that every technology user understands the ingredients in their tools and the potential implications of those components, no matter the source.”
- Tom Pace, the co-founder and CEO of NetRise
The NetRise platform enables ongoing evaluation and analysis, compliance checks, live risk monitoring, and the creation, storage, and organization of Software Bills of Materials (SBOMs).
The expanded features of the NetRise platform provide users with increased visibility and continuous monitoring of firmware security, enabling them to identify and respond to vulnerabilities quickly. NetRise's innovative approach to firmware security represents a significant step forward in securing the firmware of XIoT devices across industries.
