Israeli automated security platform for IoT and embedded software developer Vdoo today announced that it has extended its Series B financing round by raising an additional $25 million led by Qumra Capital, Verizon Ventures, and others. This brings to $57 million the amount raised in the Series B round and to $70 million the amount raised since the company was founded. The Tel Aviv-based company was founded by CEO Netanel Davidi, president Uri Alter and CTO Asaf Karas.
Davidi said, "Over the last year, we’ve experienced huge market demand from device deployers such as telcos and utilities. These companies are responsible for the security of the millions of devices such as routers, connected home appliances, and smart meters that they deploy to their end-user and customer environment. With Vdoo’s new offering, they can now quickly and easily vet the security and standard compliance of these devices and continue to monitor and protect the devices over the lifecycle of the product. As a result, our newest customers include top U.S. and global telcos and additional utilities players globally. We are happy to announce this round after receiving strong market validation, and we are thankful we were able to grow significantly in these challenging times."