Perigee Raises Pre-Seed to Bring Security and Performance to HVAC and Environmental Controls

Perigee, founded by a former NSA mathematician, combines network exploitation and machine learning expertise to stop malicious threats, improve behavior, and extend the life of connected devices in real-time. Perigee announced the closing of their first institutional capital round of $1.5M.

The round was led by Outsiders Fund’s Austin McChord and Teddy Seem, with additional investment from Westport, Contour Venture Partners, BBG Ventures, Innospark Ventures, Ray Rothrock, and Corey Thomas.  The newly invested capital will be used to hire new talent, further develop the product, and grow the enterprise within environmental controls and beyond.

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McChord, founder and former CEO of data backup service Datto, said, “Teddy and I are incredibly excited to work with such a talented team. This space is clamoring for new thinking and we are really excited to be backing Mollie and her vision around how the ever-changing security landscape can be improved.”

Perigee’s founder and CEO Mollie Breen previously led a team at NSA where she focused on critical infrastructure. With Perigee, she is extending that expertise to critical infrastructure across enterprises with a specific focus on connected devices.

The same brand of connected thermostats installed in the physician lounge and in the NICU will inevitably be a part of a different workflow and have a different risk profile. Perigee isolates threats unique to a specific thermostat, in real-time, in order to minimally impact an enterprise’s critical operations.

“Connected devices are used to increase the ROI of certain critical operations by making them faster and automated, and we focus on increasing the ROI of the devices themselves by making them more trustworthy and longer lasting,” Breen said.

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Perigee is uniquely positioned to bridge IoT security and IoT analytics.

Breen said: “Analytics solutions are often not built with security in mind. We are a security-first solution, that quantifies improvements in a single device’s overall behavior and hygiene, for all devices.”

The company is focusing initially on devices within HVAC and environmental controls in critical industries like healthcare at a time when these sensors are of the utmost importance.

“HVAC and Environmental Controls play an important part in patient care.  If you don’t have those, especially now due to COVID-19, you’re not taking care of them.  These systems are just as important as your Electronic Medical Record.  Secure them like it,” said Mitch Parker, CISO of Indiana University Health.

The Perigee team sees HVAC and environmental controls as the optimal starting point to expand into the growing footprint of connected devices.

Breen said: “As real estate developers look to healthcare to set future standards for healthier buildings, working with hospitals means we understand the most critical devices today, and in the future too.”

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