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Sternum raises $27B in Series B to advance its platform, accelerate its go-to-market strategy and grow its team alongside enhancing R&D efforts
Sternum, an endpoint security builder for IoT devices, raised $27 million in a Series B funding round led by Spark Capital to bolster its research and development and advance its scalable platform, a press release from the company said.
The Series A funding from Sternum came in September last year, where it netted $6.5 million. With the close of this round, Sternum has raised about $37 million to date. Other investors, Square Peg capital, the Hinrich Foundation, the European VC firm BTOV, participated in this funding round. Sternum stated that this investment represented one of the highest funding for a female-founded security analytics company.
Sternum, founded in 2018, provides a patented software that can be embedded into any IoT device, actionable whether the device is connected or not. It states that it transcends the inherent limitations of IoT devices with its software sensors, enabling them to instantly become self-securing and simultaneously collecting intimate data at runtime execution and processing it in their cloud platform.
Natali Tshuva, co-founder and CEO of Sternum, expressed delight at the backing of Spark Capital and added,
They have deep knowledge of our space, so their validation of our vision means a great deal. We seek to create a world where the ability of IoT to bring efficiency and insight to the global economy – and transform the lives of billions – can continue without encumbrance. This potential has been held back by the lack of an infrastructure for every smart IoT device. We are pushing the boundaries of what’s possible, by bringing security to these devices, and extracting data from them.Natali Tshuva, co-founder and CEO of Sternum
Sternum stated that it would use the proceeds to accelerate its go-to-market strategy and grow its team alongside enhancing R&D efforts. It states that its technology is embedded in over 10000 devices spanning industries like medical, communication and others.
Santo Politi, co-founder and general partner of Spark Capital, expressed delight at leading the investment round and added,
From the first time we met Natali and her team we were deeply impressed by their combination of vision and executional prowess. We see the unmet needs in the IoT security and data space to be one of enormous promise. Sternum is perfectly poised to seize and lead this moment, with their no-code platform that creates truly autonomous devices that require no connectivity to be protected against exploitation.