ReFirm Labs

Derick Naef, CEO of ReFirm Labs

ReFirm Labs, a provider of Internet of Things (IoT) and firmware security solutions, has completed a pre-A round of $2 million in funding. The round was led by cybersecurity venture firm DataTribe and investment group New Dominion Angels, along with participation from other individual investors.

The company plans to direct new investment towards accelerating new product development and expanding the company’s sales and marketing operations.

ReFirm Labs‘ solution, Centrifuge Platform, vets, validates and monitors the security of firmware, a software that provides low-level control for the hardware of an IoT device. The platform prevents attackers from exploiting flaws in firmware and gaining a foothold in the network to which the IoT device is connected, according to a statement.

“With 5G coming online soon – and with it, billions more IoT devices – embedded threats and poor security in IoT devices will soon be reaching a critical mass. As our company continues to grow, we are committed to helping more and more companies and government agencies shore up the risks in their supply chain and ensure the optimal security of IoT devices deployed on their networks,” Derick Naef, CEO of ReFirm Labs commented.

Centrifuge can identify and report potential zero-day vulnerabilities, hidden crypto keys, backdoor passwords and vulnerabilities in firmware in less than 30 minutes. An automated, and cloud-based platform simplifies the management and monitoring of security across a system of deployed IoT devices without needing agents or access to a network.

Founded in 2017, the company recently announced a new technology collaboration with Wind RiverÂ, a provider of software for critical infrastructure. The new collaboration will accelerate the development and integration of Centrifuge PlatformÂ.

ReFirm Lab’s newest funding round follows up an initial seed investment round of $1.5M in 2017, which was also led by DataTribe.

by Sheeba Bhagat Dawar
Market Analyst at IBS Intelligence