Home Strategy ZingBox raises US$22m to fund market expansion

ZingBox raises US$22m to fund market expansion

US-based global Internet of Things security solution provider ZingBox has completed a US$22 million Series B funding round led by Dell Technologies Capital and Tri Ventures.

ZingBox will use the capital to meet what it says is strong demand for its IoT Guardian technology that addresses several challenges organisations face when tackling IoT security problem.

The company says the additional capital will enable it to recruit staff in the next year to accelerate product capabilities, and expand market reach.

ZingBox claims its IoT Guardian technology is the industry’s only IoT security solution based on device personalities, and leverages sophisticated machine learning to discover, assess risk, baseline normal behaviour, detect anomalous activities and provide real-time remediation across an organisation’s entire IoT footprint.

According to the company, the patent-pending solution has a “deep grasp of each IoT device’s personality, analysing communication to and from every device, watching constantly for deviations in behaviour and providing alerts for suspicious behaviour”.

“Dell Technologies Capital invests in innovative founders and companies that can utilise 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.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).