SAM Seamless Network Raises $20 Million Series B Funding to Lead IoT Security for 5G Networks
- Round LED by Blackberry and Verizon Ventures. Additional Investors Include Blumberg Capital, Intel Capital, Adt, and Nightdragon
SAM Seamless Network, a network security company for consumers and SMBs, announced it has raised $20M in Series B funding to accelerate SAM’s growth, enabling the expansion of its security reach from currently protecting 2M networks and 70M devices globally, to securing 10M networks and 500M devices by the end of 2021.
SAM specializes in protecting networks and smart devices for SMBs and consumers through an innovative software security solution integrated into the network gateway. “Since we’re the fastest growing and most widely deployed solution in our space, we’ve been able to improve our behavioral and machine learning techniques to not only detect, but prevent attacks targeting smart devices,” said Sivan Rauscher, CEO of SAM. “Combining our technology with 5G transformation will enable us to more effectively predict unknown attacks.” SAM also recently launched an API-based intelligence service that provides premium device fingerprinting and real-time security for IoT devices that has garnered the attention of enterprises in new markets.
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SAM will use this investment to drive innovation that brings enterprise-grade intelligence-based security to 5G-connected devices. Its core technology based on device fingerprinting and IoT threat intelligence will leverage the Mobile Edge Computing (MEC) architecture of 5G networks to operate closer to the end device. With increased visibility and reduced latency of 5G connectivity, SAM will be able to make security decisions faster for smart devices wherever they are.
SAM’s technology detects anomalies in device behavior across the network to identify threats and uses aggregated data to ensure safe pathways for legitimate traffic. Investing in new intelligence that incorporates 5G visibility will enable SAM to predict the next widespread attack.
SAM was founded by CEO Sivan Rauscher, CTO Eilon Lotem, and Vice Chairman Shmuel Chafets who previously served as cyber specialists in elite units of the Israeli Defense Forces including Unit 8200. Team8 Co-Founders Nadav Zafir, Israel Grimberg, and Liran Grinberg serve as SAM’s advisors. With offices in New York, Berlin and Tel Aviv, SAM is already rapidly scaling its global staff to meet the needs of current and future customers across geographies.
“With an increase of at-home devices and with more people across the globe gravitating towards independent or remote work, SAM can be used as an enterprise-grade security solution for SMB and home networks,” said Tammy Mahn, Managing Director of Verizon Ventures. “Verizon Ventures looks forward to supporting this seasoned team as they continue to keep consumer devices safe and stand as a leader in software-based cybersecurity.”
“With its powerful and intuitive AI technology, SAM Seamless Network addresses the unique challenges of our hyperconnected world where an explosion of IoT devices exposes potential attack surfaces for companies and consumers alike,” said Anooj Shah, Senior Director, Investments and Strategy for Blackberry. “We are excited to build upon our existing partnership with SAM Seamless Network and support both their market expansion and their mission of delivering simpler network cybersecurity to protect offices and homes.”
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