Binarly Closes $10.5M Seed Financing


Binarly, a Los Angeles, CA-based provider of an AI-powered firmware and software supply chain security platform, raised $10.5M in Seed funding.

The round was led by Two Bear Capital, with participation from Blu Ventures, Canaan Partners, Cisco Investments, and Liquid 2 Ventures. Pre-seed investors Westwave Capital and Acrobator Ventures also expanded their equity positions.

The company intends to use the funds to further expand its engineering team, and scale enterprise and device manufacturer adoption of its technologies.

Founded in 2021 and led by CEO Alex Matrosov, Binarly is a global firmware and software supply chain security company. Its flagship Binarly transparency platform is an AI-powered solution used by device manufacturers, OEMs, IBVs and product security teams to identify known and unknown vulnerabilities, misconfigurations and signs of malicious code implantation. Its validated remediation playbooks have significantly reduced the cost and time to respond to security exposures.

Commenting on the news, Alex Matrosov said:“We built the Binarly Transparency Platform to address that industry gap and provide verifiability and inspectability at every corner of the software and firmware supply chains. The caliber of investors in our seed round is a loud signal that we’re progressing toward that vision.”