Device Authority, a London, UK-based company which specializes in identity and access management for enterprise IoT ecosystems, raised $7M in Series A funding.
Ten Eleven Ventures made the investment.
The company intends to use the funds to continue to grow its product offerings and to expand its North American presence.
Led by CEO Darron Antill, Device Authority is a leader in Identity and Access Management (IAM) for Enterprise IoT ecosystems. Device Authority’s KeyScaler identity security platform and KeyScaler-as-a-Service (KSaaS) allow organizations to reduce human error and accelerate incident response, minimizing risk, ensuring complete device and data trust, and enabling trusted AI in any connected environment. The patented Dynamic Device Key Generation (DDKG) technology and its continuous authorization supports supply chain security and establishes a vital root of trust to mitigate the security risks posed by the use of AI in connected environments in the automotive, medical, industrial, and critical infrastructure industries.
Commenting on the news, Darron Antill said: “We are delighted to welcome Ten Eleven Ventures as a new investor. This investment is a significant step in Device Authority’s journey as we continue to help new and existing customers solve their device security challenges. The wealth of knowledge and experience that our new investor and board members bring will add significant value in helping the company grow and become the market leader for delivering zero trust for IoT.”
FinSMEs
07/02/2024