SAM Launches Out of Stealth and Raises $3.5 Million to Make IoT Secure
TEL AVIV, Israel, Feb. 6, 2018 /PRNewswire/ -- SAM, a home network cyber defense company, announced today its launch out of stealth as well as the completion of a $3.5 million seed round, led by Blumberg Capital. SAM's cybersecurity software seamlessly integrates into any router, providing homeowners with a simple, easy-to-use solution for protecting home networks and all connected devices.
With a spike in the number of connected devices per household coupled with a reluctance to upgrade home routers and firmware, the challenge of protecting home networks has become increasingly more difficult. To overcome this challenge, SAM has built an innovative and proven security solution that can be seamlessly installed on aftermarket home gateways with no impact on the user experience.
SAM's solution fingerprints and uniquely identifies every connected device on the network. Then, using its AI-powered cloud, the technology applies the appropriate security policy for each device and detects any occurrence of anomalies. Its virtual patching allows ISPs to deploy security fixes within days of their detection. For example, a fix for the recent Krack attack was deployed within 48 hours to hundreds of thousands of routers running on 15 different platforms.
"The growing number of connected devices in homes is increasing the exposure to online threats — most consumers are unaware of the risks and do not know how to properly secure their household network," said Bruce Taragin, managing director, Blumberg Capital. "SAM's software is downloaded onto home routers, providing a universal cybersecurity envelope for all of their connected devices."
SAM's business model uniquely combines benefits for telecommunication and service providers as well as hardware manufacturer of routers and chipsets.
While operating in stealth mode, SAM officially partnered with Bezeq, Israel's largest telecom provider with over 2.5 million home subscribers. SAM's technology was packaged both as a comprehensive cyber protection platform as well as a premium interactive mobile application to control the home network with advanced features such as device fingerprinting, parental control, etc. Since partnering with Bezeq in May 2017, SAM's technology has been installed on over 200,000 routers running on dozens of hardware/firmware configurations including routers already installed in homes.
"We've been able to offer our users a sense of control with the help of SAM," says Gil Rosen, Chief Marketing Officer at Bezeq. "Having real-time information of when a cyber attack is imminent means we now provide the most efficient and up to date security system to completely protect our customer's homes."
As part of SAM's mission to deliver the best home security to all available routers, the company works closely with Intel's Connected Home Division and was recently selected to exhibit with them at the International Consumer Electronic Show in Las Vegas. Integrating SAM's technology with Intel's chipsets has allowed the two companies to create a platform that offers the strongest security feature with unmatchable performance.
SAM's seasoned team of frontline security experts come from the elite security Israeli intelligence units and includes researchers, IoT specialists, and maverick reverse engineers.
The company's advisors include Nadav Zafrir, Israel Grimberg and Liran Grinberg, former leadership of Israel's elite intelligence unit 8200, and the founders of Team8, a leading cybersecurity think-tank and company creation platform.
"With SAM, Telecom providers now have the opportunity to offer an added security value to customers, and at the same time, they are armed with real-time data about the ongoing threats and infiltrations attempts. This allows them to deliver an unmatched comprehensive solution for secure home connectivity," said Sivan Rauscher, Co-Founder and CEO of SAM. "Additionally, countless vulnerabilities within connected devices have already resulted in widespread attacks. Smart thermostats, gateways, baby monitors, televisions, and even baby toys have been demonstrated as hackable. As people continue to bring more of these devices into their homes, security both within home and the network will continue to be severely compromised. SAM was built to help solve this problem."
About SAM:
SAM provides home network and IoT security solutions that integrate seamlessly with any platform. Installed remotely on existing gateways, SAM doesn't require additional hardware or a technician to provide extensive network security. SAM's architecture allows it to virtually patch vulnerabilities such as KRACK within days of initial detection, and now secures over 3M devices from such attacks through its partnership with Israel's largest telecom company, Bezeq. SAM is also working with leading chipset manufacturers such as Intel to provide network security from the source. Founded in 2016 and based in Tel Aviv, SAM has raised $3.5 million from Blumberg Capital with the vision of becoming the security hub in every network. For more about SAM, please visit www.SecuringSam.com
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