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Sepio systems raised an additional $4 million investment from Munich Re ventures and Hanaco Ventures
Fremont, CA: Sepio Systems, the leader in Rogue Device Mitigation (RDM) sector, raised an additional $4 million from its newest lead investor Munich Re ventures (MRV), to kickstart its innovation and extend into newer regions across the world. The company secured the latest additional $4 million from Munich Re Ventures and Hanaco Ventures just after its Series A round of financing. The newest input of investments brings the total investment of the company to $15 million.
"Sepio is filling a critical gap in hardware security by providing visibility and management of attacks from an organization's network to its physical layer," said Jacqueline LeSage Krause, Managing Director, Munich Re Ventures. "Sepio's ability to fingerprint physical devices and detect rogue behavior is attracting interest from global organizations seeking to understand what rogue devices are living in their walls and on their networks. We look forward to working with Sepio on growing their market presence and product offering."
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Along with the investment, Sepio has also worked with Munich Re's New Technologies and AI Underwriting Team, where the reinsurance enterprise has validated Sepio's innovative approach to rogue device mitigation to minimize the customer's holistic security risk. Sepio also provides a performance guarantee to its customers supported by a subsidiary of Munich Re.
"Our ability to offer instant detection and response to any threat or breach attempt coming from infected or manipulated devices has set Sepio apart and created incredible interest from the investment and customer community," said Yossi Appleboum, Co-Founder & CEO, Sepio Systems. "With a new R&D center in Lisbon and our expansion to Europe, with offices opening in the United Kingdom and Germany, Sepio is growing at an exponential rate, and this additional funding is fueling that growth. Our partnership with Munich Re continues to expand our presence globally and highlights the synergy between insurance and RDM."
Encapsulating financial services institutions to political campaigns, Sepio systems tackle the prominence and risk of rogue devices. The company is partnering with its clientele to assess the volume, type, and behavior of standard hardware devices, like keyboards, USBs, desktop boxes, and more. Immediately after the devices are identified, Sepio provides security teams full visibility into how these devices behave in real-time, leading to the ability to merely defining the granular device usage rules to monitor and protect IT continuously. The company's software-only solution leverages a combination of physical fingerprinting technology along with a device behavior analytics.
"Our specialists deeply explored Sepio's technology, and we found it superior to existing rogue device detection and mitigation techniques," said Dr. Andre Knoerchen, Head of New Technologies and AI Underwriting, Munich Re. "This partnership is just the first step in a long and collaborative relationship where customers will benefit from Sepio's ability to create unique and innovative solutions to secure hardware devices while being backed by Munich Re's performance guarantee insurance."
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