Lexumo Selected for MIT "Industry-Ready" Accelerator Program

CAMBRIDGE, Mass., Sept. 28, 2016 /PRNewswire/ -- Lexumo, developer of the world's first automated service for continuously monitoring Internet of Things (IoT) and embedded code for critical open source vulnerabilities, has been selected as one of five companies for the MIT STEX25 Industry-Ready Startup accelerator program.

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Lexumo uses graph analytics and machine learning developed for DARPA to precisely identify public vulnerabilities such as Heartbleed in IoT and embedded code. The company has raised $4.9 million in funding from top cybersecurity investors and was recently recognized as an IoT Company to Watch and a Machine Learning Startup to Watch.

STEX25 is an accelerator managed by MIT Startup Exchange and its parent, the MIT Industrial Liaison Program (ILP), and is focused on fostering collaboration between MIT-connected startups and ILP member companies. These companies include over 200 of the world's leading brands including companies such as Airbus, Apple, BMW, Boeing, Bose, British Telecom, Chevron, EMC, Hitachi, Honda, Jaguar Land Rover, L-3 Communications, LG Technology, Lockheed, NEC, OSRAM, Philips Electronics, Qualcomm, Raytheon, Samsung, Siemens, Toshiba, and Yamaha.

"To gain competitive advantage, all organizations are now transforming into digital businesses and leveraging cloud, mobile and IoT technologies," said Brad Gaynor, Ph.D., CTO and co-founder of Lexumo.  "At the same time, they're taking advantage of reusable open source in order to innovate faster and gain efficiencies. We look forward to collaborating with MIT ILP companies to help them adopt the best open source available while continuously ensuring the security and privacy of their customers."

"We're very pleased to name Lexumo as part of STEX25's inaugural cohort," said Trond Undheim, who directs MIT's Startup Exchange.  "STEX25 companies have a strong science & technology foundation in important fields such as artificial intelligence (AI), automation, energy, healthcare, ICT, Internet of Things (IoT), life science, manufacturing, materials, nanotech, sensors, etc."

"Helping MIT-connected startups get traction with large corporate players is a crucial step in technology commercialization," said Karl Koster, Executive Director of the ILP. "Our members are very interested in meeting with the STEX company founders, and these kinds of connections are vital to growing MIT's innovation ecosystem."

Based in Cambridge, Massachusetts, Lexumo was founded by a team of computer and data scientists from Draper Laboratory, an MIT spin-off, who spent the past four years inventing the company's core technology for DARPA and other DoD customers. A key breakthrough was developing the first large-scale system for semantically searching and indexing the world's open source software. The company's code security platform is used by leading Global 2000 brands including global service providers and both consumer and industrial IoT manufacturers.

About Lexumo
Lexumo secures the world's open source software. Our cloud-based service enables developers to securely adopt the best open source available — so they can ship great products faster. Lexumo uses "Big Code" analytics to precisely identify critical vulnerabilities without the inaccuracies associated with legacy open source software (OSS) governance solutions, even when code has previously been modified or patched.

Built on a massively-scalable, AWS-based cloud stack, Lexumo's service integrates with existing developer workflows (Jenkins, Jira, etc.); provides actionable information in the form of detailed patching instructions; and continuously monitors your code for vulnerabilities without requiring any developer interaction.

For more information, visit https://www.lexumo.com.

About STEX25 and MIT's Industrial Liaison Program (ILP)
STEX25 is startup accelerator focused on fostering collaboration between MIT-connected startups and member companies of MIT's Industrial Liaison Program (ILP). STEX25 is managed by MIT Startup Exchange, and its parent, the ILP. The ILP is a key player in making industrial connections for MIT, with over 220 of the world's leading companies using their ILP memberships to advance research agendas at MIT.

For more information, visit: http://ilp.mit.edu or http://startupexchange.mit.edu/

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SOURCE Lexumo, Inc.