Singapore-based MicroSec, a security-of-things tech firm, has raised an undisclosed amount of Series A funding. MassMutual Ventures led the round with participation from other investors that included Wavemaker Partners and SEEDS Capital.
Security-of-things technology firm MicroSec today announced it has completed its Series A round of financing. MMV (MassMutual Ventures) led the investment round with participation from existing investors including Wavemaker Partners and SEEDS capital. The investment brings MicroSec’s total funding since launching its revolutionary enterprise-grade cybersecurity solutions to US$3.2 million and will help the company aggressively expand its technical capabilities, sales and marketing efforts as well as broaden and accelerate product development.
The Series A financing builds on an exceptional year for MicroSec which saw a rapidly growing roster of clients and partners that include Singapore government agencies; CSA (Cyber Security Agency of Singapore), GovTech (Government Technology Agency), HDB (Housing & Development Board), and global technology companies such as Infineon Technologies and Honeywell. As market momentum gathers in cybersecurity, IIOT (Industrial Internet-of-Things), and B2B enterprise solutions, MicroSec is right at the heart of these exploding growth opportunities.
“We are really excited about this round of funding as it is well-timed to meet the market demands of IoT technology and cybersecurity,” said Dr. Vishram Mishra, CEO and Cofounder of MicroSec. “Our mission is to create a connected world that is secure and safe for businesses, and to accelerate progress on this mission MicroSec has made key executive appointments to grow our leadership team, and also plans to double headcount in 2021 across all departments.”
Key features and benefits of MicroSec’s security management platform include:
Security lifecycle management including patch and vulnerability management
Optimized keys and certificate management on edge devices
Machine learning based intrusion detection system
Artificial intelligence for anomaly detection on edge devices
Lead investor MMV is a global venture capital firm, investing in multistage technology companies in financial technology, digital health, cybersecurity and enterprise software, with several notable investments and exits in cybersecurity startups. MMV Managing Director Ryan Collins will join MicroSec’s Board of Directors. “MicroSec’s offering is well-timed with the rapidly increasing demand for security and industrial IoT solutions that extend beyond the operational infrastructure of any enterprise organization,” said Ryan. “We are pleased to lead MicroSec’s current round and look forward to supporting the company as it expands its capabilities and products.”
“We first backed MicroSec in 2018 as the team sought to provide enterprise-grade security for the nascent IoT market in SEA. Today, MicroSec has built its credibility off the back of their extensive product development and successful commercial projects in Singapore. We look forward to MicroSec’s continued progress as it expands with clients and partners domestic as well as overseas in smart city infrastructure, automotive and industry 4.0,” said Paul Santos, Managing Partner of early-stage VC Wavemaker Partners.
“MicroSec is a Singapore-grown startup developing cutting-edge cybersecurity solutions for IOT devices, where robust offerings are lacking given common constraints on bandwidth or memory. SEEDS Capital is pleased to make our follow-on investment to support the company in enhancing the suite of products and expand into new markets,” said Geoffrey Yeo, General Manager of SEEDS Capital.
Headquartered in Singapore, MicroSec (www.usec.io) is a deep technology cybersecurity company that combines cybersecurity, cryptography, and machine learning for government and industrial organizations to protect their operational technology infrastructure. MicroSec’s focus on enterprise-grade security capabilities for IoT devices along with lifecycle management includes a machine learning-based anomaly detection system that provides intelligent detection of tampering and misuse of devices. With a seamless integration process, MicroSec is revolutionizing cybersecurity for Automotives, Smart City Infrastructures, and Industry 4.0.