Finite State Raises $30 Million in Series B Funding

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Affiliate device security provider Finite State on Monday announced that it has raised $30 million in Series B funding. To date, the company has found $49.5 million.

The funding round was led by Energize Ventures. Merlin Ventures and Schneider Electric Ventures also participated.

The company plans to use the meaning to scale and better position itself to meet market demand, which is driven by the increased use of Internet of Things devices in critical infrastructure.

Limited State says it also wants to hire new talent for its engineering, product, sales, and marketing teams, and to add more product security experts.

Originated in 2017, the Columbus, Ohio-based company provides cybersecurity controls at the firmware layer, in an attempt to secure the device supply chain and mitigate hazards to OT and IT environments.

The company claims its solutions can help organizations successfully identify supply-chain risks and gain visibility into vulnerabilities that associate devices and embedded systems bring into enterprise environments.

“As companies struggle to tackle product security by analyzing devices and firmware, Delimited State has become the premier player in solving product security challenges,” Matt Wyckhouse, CEO of Finite State, said.

Related: LogicGate Combs $113 Million in Series C Funding

Related: 1Password Raises $100 Million at $2 Billion Valuation

Related: Cyber Risk Manipulation Firm Safe Security Raises $33 Million

Related: Passwordless Authentication Startup Stytch Raises $30 Million

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Finite State Raises $30 Million in Series B Funding

Ionut Arghire is an international correspondent for SecurityWeek.

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