What’s the key to protecting IoT devices at the network edge?

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When considering topic targets in enterprise networks, it’s easy to overlook IoT devices. After all, traditional network security focuses on protecting endpoints, desktops, and laptops from cybercriminals. IoT devices are often difficult to manage, with limited vulnerability.

Yet, a growing number of vendors are trying to simplify the process of managing devices at the network edge. One such vendor is IoTOps platform SecuriThings, which today announced it has raised $21 million in a Series B funding round led by US Venture Partners (USVP), bringing its funding total raised at $39 million.

The SecuriThings IoTOps platform provides real-time visibility into IoT devices, leveraging machine learning (ML) to detect and mitigate endpoint-level threats. It also enables predictive maintenance and provides access to threat response capabilities as a service from a remote Security Operations Center (SOC) team.

As a security framework, this IoTOps-based approach can centralize monitoring devices at the network edge, which have traditionally remained opaque and difficult to manage.

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Securing the Network Edge

SecuriThings’ announcement comes as IoT adoption continues to grow, with the number of global IoT connections growing 8% in 2021 to 12.2 billion active devices, with researchers expecting increase by 18% to reach a total of 14.4 billion active connections in 2022.

“Most organizations have hundreds to thousands of physical security devices to protect their people, properly and IP, as well as to comply with legal and regulatory requirements,” said Roy Dagan, CEO of SecuriThings. The sheer volume and complexity of managing all of these devices is incredibly difficult. »

By turning to IoTOps, organizations can centralize the management of IoT devices and improve visibility of potential exploits and vulnerabilities at the network edge.

“What makes our IoTOps platform a game changer is that it enables physical security teams across various industries and organization sizes, including several Fortune 100 companies, to bring IT standards to all their devices,” Dagan said. “These teams move to the forefront of their organizations as leaders, educating on best practices for device management and operations.”

The IoT security market

With the growing adoption of IoT devices, it’s no surprise that more and more organizations are looking to invest in solutions to secure these new endpoints. In fact, research indicates that the IoT security market will grow from $14.9 billion in 2021 to $40.3 billion by 2026 as more organizations attempt to mitigate vulnerabilities. at the edge of the network.

One of SecuriThings’ biggest competitors is Amazon Web Services (AWS) with its AWS IoT Device Defender tool. The tool is a managed service that provides organizations with external support to audit IoT device configuration, detect abnormal activity, and deploy security policies. AWS recently announced that it generated $19.74 billion in revenue in the third quarter of 2022.

Another key player in the market is Microsoft Azure with its Microsoft Defender for IoT tool. The tool is an agentless network detection and response (NDR) solution that integrates with Microsoft 365 Defender and Microsoft Sentinel, and provides continuous vulnerability monitoring, with behavioral analytics and threat intelligence.

At this point, what separates SecuriThings from its bigger competitors is that it’s neither a managed service nor explicitly tied to a product ecosystem. Thus, its IoTOps approach gives companies more flexibility in how they manage and secure their IoT environments.

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