SAM Seamless Network Raises $20M 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
TEL AVIV, Israel, May 27, 2021 /PRNewswire/ -- SAM Seamless Network, a network security company for consumers and SMBs, today 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.
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."
About SAM Seamless Network
SAM Seamless Network is a cybersecurity company that offers a unified, all-in one, device-agnostic software solution to protect unmanaged networks and IoT devices. SAM was designed to study the behavior of a single network of fragmented devices. By using its unique cloud-based device and threat intelligence, SAM identifies every connected device and creates customized protection for every user, home or SMB, forming a bulletproof network. For more information, please visit securingsam.com.
About BlackBerry
BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including 175M cars on the road today. Based in Waterloo, Ontario, the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems. BlackBerry's vision is clear - to secure a connected future you can trust.
BlackBerry. Intelligent Security. Everywhere.
For more information, visit BlackBerry.com and follow @BlackBerry.
About Verizon Communications Inc.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world's leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers' demand for mobility, reliable network connectivity, security and control.
About Blumberg Capital
Blumberg Capital is an early-stage venture capital firm that partners with passionate entrepreneurs to innovate and build successful technology companies. The firm specializes in leading Seed and Series A rounds collaborating with angel investors, other venture capital firms and strategic partners. The Blumberg Capital team are active investors and board members – operating as an extension of the entrepreneurs' network. Blumberg Capital is headquartered in San Francisco with team members in Tel Aviv and New York. For more information, please visit blumbergcapital.com.
About Intel Capital
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter and cloud, 5G, next-generation compute and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.3 billion in 1,544 companies worldwide, and more than 660 portfolio companies have gone public or participated in a merger. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com.
About ADT
ADT is a leading provider of security, automation, and smart home solutions serving consumer and business customers through more than 300 locations, 9 owned and operated monitoring centers, and the largest network of security professionals in the United States. The company offers many ways to help protect customers by delivering lifestyle-driven solutions via professionally installed, do-it-yourself, mobile, and digital-based offerings for residential, small business, and larger commercial customers. For more information, please visit www.adt.com or follow us on Twitter, LinkedIn, Facebook, and Instagram.
About NightDragon Security
NightDragon Security is an investment firm focused on partnering with cybersecurity companies across the corporate lifecycle, from early stage, to growth, buyouts and special situations. Its flexible model allows it to lead or co-invest alongside leading venture capital and private equity firms in the pursuit of driving growth and maximizing shareholder value. NightDragon is unique in providing deep operational expertise in cybersecurity gained by its founders Dave DeWalt and Ken Gonzalez from years serving as senior executives leading technology companies such as Documentum, EMC, Siebel Systems (Oracle), McAfee, Mandiant, Avast and FireEye.
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