• NetRise, a 2020 startup, has created a cloud-based software-as-a-service platform that analyzes and constantly tracks the firmware of “extended internet of things” devices.
  • According to NetRise, the fact that commercial and consumer devices are linked to the internet and to one another creates a crucial blind spot for security operations and vulnerability management teams as threats and vulnerabilities increase across the enterprise.

NetRise Inc., a cybersecurity company, recently announced that it has raised eight million dollars in new funding to increase the platform’s capabilities, including developing additional machine learning models for advanced analysis and coverage for Windows systems and containers.

A 2020 startup named NetRise has developed a software-as-a-service platform that runs in the cloud and analyzes and constantly tracks the firmware of “extended Internet of Things” gadgets.

Device makers and enterprise clients can identify threats in their supply chains and take action to stop them by using the company’s platform.

According to NetRise, as threats and vulnerabilities spread throughout the enterprise, the fact that business and consumer devices are connected to the internet and one another creates a critical blind spot for security operations and vulnerability management teams. In addition, the firmware that runs XIoT devices introduces vulnerabilities into a network that is frequently disregarded, creating an unattended attack surface.

Continuous monitoring and analysis, which evaluates all connected devices for the most recent risks, are features of the NetRise platform. The platform creates a risk score by combining analysis from various artifact types, which the company calls “holistic risk visibility.”

Enterprises can query their device data using the platform’s robust inventory and querying features, which enables them to switch from a reactive to a proactive posture. Other features include support for software bills of materials and compliance adherence.

NetRise says these features help enterprise and device manufacturer customers understand what’s inside their devices and their whole software supply chain to find potential risks and vulnerabilities. The platform is rumored to shorten the duration and expense of firmware and software supply chain security programs, making it simpler for businesses to identify issues and implement quick fixes.

Co-founder and CEO of NetRise, Tom Pace stated, “Firmware security is not a problem that is relegated to a particular vertical or industry. We have built our platform in such a way that support for automotive, networking equipment, consumer IoT, industrial control systems and medical device firmware alike are all supported.”

Squadra Ventures LLC oversaw the new round of funding. Sorenson Ventures LP, Miramar Digital Ventures LLC, and DNX Ventures LLC also participated. Crunchbase says that, with this new round, NetRise has raised a total of USD 14.8 million.