Shield-IoT, a Kfar Saba, Israel-based mass-scale IoT and IIoT network cyber security and operational monitoring company, raised $7.4M Series A funding.
The round was led by NextLeap Ventures and Bloc Ventures with participation from Atlas Ventures, Akamai Technologies, Springtide Ventures, DIVEdigital and Janvest Capital Partners.
The company intends to use the funds to expand operations and its business reach.
Founded in 2017 by Udi Solomon, CEO, and Professor Dan Feldman, Chief Scientist Officer, Shield-IoT offers a cloud-based software solution to protect any IoT device or application with no changes to end-customer networks streamlining the implementation of mass-scale IoT and 5G networks. With Shield-IoT, service providers and IoT brands can monitor and secure their mass-scale B2B IoT and IIoT networks, reduce operational costs, and generate new revenue streams with value-added services.
It is currently in use across multiple verticals including telcos, utilities, transportation, manufacturing, smart cities, and government.