CyberX Selected as “Hot IoT Security Startup to Watch” Based on Named Enterprise Customers, Strength of Team, and Investors

May 06, 2019

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BOSTON,-- CyberX, the IoT and industrial control system (ICS) security company, today announced that it was selected as one of “10 Hot IoT Security Startups to Watch” by Network World and Startup50.

In describing why CyberX was selected as a hot IoT security startup, Network World notes that “CyberX hits the trifecta” with big VC backing, a strong leadership team, and an impressive list of named customers.

Founded by Jeff Vance, Startup50 uses a rigorous, data-driven process to select its winners based on criteria including on-the-record customers, senior leadership’s track record, VC funding, value proposition, market potential and positioning, and lack of hype in the startup’s messaging. Prior to founding Startup50, Vance analyzed hundreds of startups as a journalist contributing to leading publications such as Forbes.com, Wired, CIO, and Network World.

The IoT Security Challenge
The Internet of Things (IoT) promises to make buildings and cities smarter, industrial processes more efficient, and societies safer and more environmentally-friendly. With Gartner predicting the number of IoT devices will grow to 25 billion by 2021, boards and management teams are increasingly concerned about the risk posed by unmanaged connected devices and the expanding attack surface they represent. Because these devices cannot be protected by legacy security technologies and typically lack modern security controls such as strong authentication and automated patching, they can easily be compromised by adversaries to threaten human safety, conduct destructive ransomware attacks, and steal computing resources for DDoS campaigns and cryptojacking.

How CyberX Mitigates IoT Security Risk
Founded in 2013 and backed by leading VCs including Qualcomm Ventures and Norwest Venture Partners (NVP), CyberX has developed innovative IoT-aware technology that works today to mitigate risk from IoT devices.

The company’s agentless platform is easy to deploy, delivering actionable insights less than an hour after being connected to the network. Leveraging patented M2M-aware behavioral analytics and machine learning, enriched by specialized IoT-aware threat intelligence, the platform auto-discovers and fingerprints unmanaged devices while continuously monitoring for targeted attacks and malware. Risk and vulnerability management capabilities include automated threat modeling to prioritize mitigations by predicting the most likely paths attackers would take to compromise an organization’s “crown jewel” assets.

“We’re gratified to have been selected as a hot IoT security company by Network World and Startup50,” said Nir Giller, CyberX Co-Founder, CTO, and GM of International Operations. “This is a clear recognition of our team’s hard work and unwavering focus on solid execution as we collaborate with customers to safeguard the connected global infrastructure upon which we all depend.”

About CyberX 
CyberX delivers the only industrial cybersecurity platform built by blue-team experts with a track record of defending critical national infrastructure. That difference is the foundation for the most widely deployed platform for continuously reducing IIoT and ICS risk and preventing costly production outages, safety failures, environmental incidents, and theft of sensitive intellectual property.

Notable CyberX customers include 2 of the top 5 US energy providers; a top 5 global pharmaceutical company; a top 5 US chemical company; and national electric and gas utilities across Europe and Asia-Pacific. Strategic partners include industry leaders such as Palo Alto Networks, IBM Security, Splunk, Optiv Security, McAfee, DXC Technology, and Deutsche-Telekom/T-Systems. For more information visit CyberX.io or follow @CyberX_Labs.


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