Mocana, a Sunnyvale, CA–based provider of device security solutions for IoT and industrial control systems, raised the first close of $15m in new financing.
The round was led by Sway Ventures with participation from existing investors Shasta Ventures and ForgePoint Capital (formerly Trident Cyber).
The company, which has raised $105m in total funding to date, intends to use the funds to accelerate the development of its TrustCenter™ IoT device security platform.
Founded in 2002 and led by William Diotte, CEO, Mocana provides comprehensive and compliant IoT device security solutions to protect critical infrastructure. Mocana TrustCenter™ and TrustPoint™ automate and simplify the management of the IoT security lifecycle by complementing IT network and operational technology (OT) security technologies, such as firewalls, IDS/IPS and threat detection, and enabling the endpoint devices and gateways to defend themselves using on-device cryptographic controls designed for mission-critical systems with limited memory and processing capabilities.
The company protects more than 100 million devices owned by aerospace, industrial, energy, healthcare, and communications companies including ABB, rtGE, HP, Intel, Schneider Electric, Verizon, and Xerox.