Perygee, a provider of smart security solutions for smart devices has announced the closing of a $4.75 million seed investment led by Ballistic Ventures. This latest round takes its total funding raised to $6.35 million to date.
Both the Internet of Things (IoT) and Operational Technology (OT) devices play a critical role in the supply chain. Operations at manufacturing plants, utilities and hospitals depend on these connected devices daily and require 100% uptime. Any lost time in operations or attacks can be costly, but getting security installed on these devices has proven challenging for the supply chain in the past due to cost of tools and resources required to maintain them.
With the Perygee next-gen cybersecurity platform, companies can now securely embrace IoT/OT by unifying data, protecting assets, and automating mission-critical workflows.
Mollie Breen, Co-founder and CEO of Perygee, previously worked on the NSA’s offensive team in an operations office and realized there were so many IoT/OT vulnerabilities, so she started working on Perygee as a solution.
“In just a few short years, we’ve launched a product that we know no other vendor on the market can offer to tackle today’s IoT/OT security challenges, and we’ve gained notable customer traction along the way,” said Breen. “I’m humbled by the team and technology we’ve put together and grateful to have some of the industry’s most well-known investors and advisors onboard to support us as we grow.”
“There are always challenges in IoT or medical device inventories. These physical inventories go out of date the minute someone walks out of the building after assessing them and the current automated tools in place do not have the detection or correct identification rate we need. In addition, they may lack the ability to connect to hospital operations, including determining if devices are being utilized and whether we have the right balance of devices across our hospital system,” said Bryan McDowell, Chief Security Officer of University Hospitals. “What’s different about Perygee is their modern approach, expertise on security and operations of IoT, and flexibility in meeting our needs as we further progress our program.”
The round also included investment from cybersecurity angels Ray Rothrock, John Donovan, Ohad Finkelstein, Corey Thomas, and Bryson Bort, as well as BBG Ventures, which backs early-stage startups with female founders.
This latest investment round will also see Ballistic’s Meftah join the Perygee Board of Directors and Angel investor John Donovan, CEO of Qudit Investments and former CEO of AT&T Communications, coming on as a board advisor to Perygee.
The company also announced a new easy to use self-service onboarding service for
IoT/OT stakeholders to start using the free tier of the platform.
Edited by
Erik Linask
