Sternum, a Tel Aviv, Israel-based IoT cybersecurity company providing embedded protection and real-time visibility for connected devices, raised $6.5m in Series A funding.
The round, which brought total funding raised to $10m since being founded in 2018, was led by Square Peg, joined by existing investor and global business leader Merle Hinrich, European venture capital firm btov, and private investors including Boston-based veteran entrepreneur Eyal Shavit and Founder & CEO of CyberArk, Udi Mokady.
The company will use the funding to expand its R&D team and bolster its go-to-market strategy for its cybersecurity and monitoring solutions.
Led by Natali Tshuva, CEO and co-founder, Sternum provides on-device real-time threat detection and prevention, as well as cloud-based monitoring, management and response platform for IoT devices to accelerate and secure the global implementation of IoT across multiple sectors, including medical, smart energy & utilities, industrial IoT, and more. Its product suite consists of two key solutions: Embedded Integrity Verification (EIV) and Advanced Detection System (ADS).
The company has already partnered with public enterprises including Telit (AIM: TCM), as well as a global medical device manufacturer, to provide endpoint security for life saving IoT devices.
Following this investment, Eyal Shavit, Philippe Schwartz, Partner at Square Peg, and Merle Hinrich, Founder and Chairman of Hinrich Foundation, will join Sternum’s Board of Directors.