Security News > 2020 > March > IoT Security Firm Ordr Increases Funding to $50 Million
2020-03-06 16:58
Santa Clara, Calif-based Ordr has announced additional funding to the Series B funding round announced in December 2019.
Ordr was founded in 2015 by Pandian Gnanaprakasam and Sheausong Yang to provide security for the rapidly expanding IoT ecosphere.
Its System Control Software Engine uses machine learning to find and classify every IoT and unmanaged device in the environment, to map all communications, to detect and prioritize vulnerabilities, and then to secure each device through policy generation and segmentation.
According to the IoT Security Market report from Markets and Markets, IoT security will be worth $35.2 billion by 2023 - up from $8.2 billion in 2018.
IoT security is generally lagging behind IoT adoption.