Finite State Raises $27 Million to Secure Software and Firmware in Connected Devices
Product security firm Finite State announced on Tuesday that it raised $27 million in a Series C funding round to grow its international presence and make its connected device security platform more autonomous.
Private funds managed by The O.H.I.O. Fund led the round, with participation from CIBC Innovation Banking, Energy Impact Partners, Energize Capital, and National Grid Partners.
The company tied the investment to two pressures on manufacturers. One is a wave of critical flaws uncovered by AI-powered research in October, dubbed the ‘Vulnpocalypse’, and the other is a growing set of product security mandates.
Finite State’s platform inspects the code that actually ships in a device, covering both software and firmware. It works from compiled firmware and binaries, so source code is not required.
Its users are makers of vehicles, medical devices, industrial equipment, consumer electronics and utility infrastructure. The platform identifies both known and zero-day vulnerabilities and helps...
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