CyberTech firm Binarly pockets $3.6m seed funding

Binarly, a CyberTech firm seeking to address ongoing security failures in the firmware supply chain, has landed $3.6m in seed financing.

The round was backed by Westwave Capital and Acrobator Ventures. A range of angel investors also took part in the round.

Binarly has built a SaaS platform for analysing, understanding and responding to silent, currently undetectable security threats at the firmware layer. Through a combination of machine learning and deep code inspection, Binarly enables security teams to have visibility into hardware and firmware failures and a simple way to recover from sophisticated attacks.

The company has also developed its own technology for vulnerability management and protecting the firmware supply chain from repeatable failures. Binarly’s approach uses semantic properties of the binary code to improve detection accuracy by limiting the number of false positives.

Binarly CEO and founder Alex Matrosov said, “The current approach in the industry is to detect risks related to the firmware by leveraging the current version number of the firmware update against a public database of vulnerabilities and threats. This leads to firmware supply chain failures because known vulnerabilities that are not associated with a certain version number of a firmware release will not be detected, thus keeping the ‘doors’ open for an attacker.”

RevealSecurity, an application detection and response solution, has reportedly closed its Series A funding round on $23m.

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