Hardware cybersecurity solution Sepio Systems bags $6.5m Series A

Cybersecurity platform Sepio Systems has raised $6.5m in its series A funding round which was led by Hanaco Ventures and Merlin Ventures.

Other contributions came from previous Sepio backers Energias de Portugal (EDP), Mindset Ventures and Pico Partners.

In line with the investment, the RegTech platform has appointed Gili Sahar as its chief financial officer and Chen Ben Eliyahu as its vice president of business development.

The startup offers an end-to-end solution which detects and mitigates hardware-based attacks, rogue peripherals, invisible network devices and manipulated firmware. Its software-only solution Sepio Prime has been launched in more that 25 banks, insurance, and telecom companies in the US, Singapore, Brazil, South Africa and Israel.

Its technology enables the discovery of rogue and ghost devices, hardware fingerprinting and behaviour analytics, alerts and blocks for usage breaches and attack attempts, granular security policies at device level, and cloud-based threat intelligence and early warning.

The partnership with Merlin Ventures will also include brining Sepio’s Rogue Device Mitigation services into the US Federal space.

As part of the company’s expansion efforts, it is opening an office in Virginia.

Merlin chairman and CEO David Phelps said, “As soon as we saw Sepio, we realized it was filling a critical gap in supply chain security by extending network visibility down to the physical layer. Our model is to invest in differentiated cybersecurity technology that we can bring to market to solve our customers’ most difficult challenges, and we see Sepio as the perfect fit.”

The new round of funding puts the company’s total capital raised to $11m.

Copyright © 2019 FinTech Global

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