MOUNTAIN VIEW – ZingBox, an Internet of Things (IoT) security solution provider, has raised $22 million in a Series B funding round led by Dell Technologies Capital — the investment arm for Dell Technologies — and Triventures.
The new investment will enable ZingBox to meet strong demand for its award-winning IoT Guardian technology that addresses several challenges organizations face when tackling the IoT security problem. ZingBox plans to use the additional capital to increase headcount in the next year to accelerate product capabilities, and expand market reach.
ZingBox IoT Guardian is industry’s only IoT security solution based on device personalities. It leverages sophisticated machine learning to discover, assess risk, baseline normal behavior, detect anomalous activities and provide real-time remediation across an organization’s entire IoT footprint. The patent-pending solution has a deep grasp of each IoT device’s personality, analyzing communication to and from every device, watching constantly for deviations in behavior and providing alerts for suspicious behavior.
“Dell Technologies Capital invests in innovative founders and companies that can utilize our technical resources and unique go-to-market channels to bring their breakthrough technology to customers around the globe,” said Raman Khanna, managing director of Dell Technologies Capital. “As more and more hospitals, retailers and businesses deploy IoT solutions, security is top of mind and ZingBox’s machine-learning approach to IoT security helps them address this fundamental challenge.”
“We are honored by the support Dell Technologies Capital and Triventures have instilled in us,” said Xu Zou, co-founder and CEO of ZingBox. “Their faith in our device personality approach to IoT security reaffirms our vision and strategy of offering revolutionary solution designed from the ground up to address the unique security challenges of IoT.”