Tel Aviv-based SAM Seamless Network, the intuitive security system for the home IoT network, has raised $12 million in Series A financing. Intel Capital led the round with participation from other investors that include NightDragon, ADT Inc and Blumberg Capital.
Tel Aviv, Israel, November 14th, 2018 – SAM Seamless Network, the intuitive security system for the home IoT network, announces today that it has completed a $12m Series A financing round. The round, led by Intel Capital, includes participation from Dave DeWalt’s NightDragon, ADT Inc. (NYSE: ADT), and Blumberg Capital. SAM’s cybersecurity software protects local area networks and all of their connected devices directly at the source of entry at the ISPs via the router. With the new round of funding, SAM plans to expand its machine learning research and to further its growth in US and European markets to meet its customers’ increasing security needs.
Gartner estimates that by 2020 there will be 20.4 billion connected “things” around the world. According to SAM research, there are an average of 5 attacks per home user per day. With an increase in the number of home devices, network operators and internet service providers cannot rely on consumers alone to protect themselves.
Intel is enabling the integrating of SAM technology into products in Europe and North America. Intel is leveraging SAM to further enrich its security offerings, while ADT continues to explore the possibilities of utilizing SAM’s seamless security to enhance its Digital Security offerings for residential customers across North America.
In addition, Dave DeWalt – a leading cybersecurity executive and the former CEO of McAfee and FireEye – has joined SAM as board chairman.
SAM emerged from stealth in February 2018 with a seed round of $4 million, which was led by Blumberg Capital and the Richter Family Fund, bringing the total funding to date to $16M. SAM was founded by former cyber specialists in the Israeli Army, who served in the most elite units such as 8200, including CEO Sivan Rauscher, CTO Eilon Lotem, and Vice Chairman Shmuel Chafets. Team8 Co-Founders Nadav Zafir, Israel Grimberg, and Liran Grinberg, serve as SAM’s advisors.
“We can no longer accept connectivity without security. People are often unaware of how many risks their home networks face every day,” said SAM CEO Sivan Rauscher. “By making it possible for ISPs to offer their customers secure connections and prevent daily attacks, SAM is enriching their offerings and sharing invaluable and real-time data about incoming security threats.”
“We were impressed with SAM’s technology and level of security for the home network, which is a critical part of building out the future of 5G,” said Dave Flanagan, vice president of Intel Corp. and group managing director of Intel Capital. “Unlike existing solutions, which necessitate buying a new gateway or replacing it with a secure gateway, SAM’s solution provides end-users security, without them needing to do anything. And for telecommunications companies and ISPs, its AI and machine learning capabilities monitor behavior on the network to detect unusual activity and prevent attacks. With the global market for smart home technology predicted to hit $100 billion by 2020, Intel and its partners know security is essential.”
“Now more than ever before, home security goes beyond the physical premises,” said Jay Darfler, Senior Vice President, Emerging Markets at ADT. “The secure home of the future must include cybersecurity. We’re invested in working with new technology providers to continue to meet the needs of today’s customer, and SAM’s technology provides advanced enterprise-grade security capabilities that help keep homes and their devices secure.”
“As the world continues to be more connected, every home, small business, place to congregate and mode of transportation becomes a target for attack.” said DeWalt. “SAM is solving this problem with next-generation, enterprise grade security for WiFi routers. Their technology is making cyber attack prevention both simpler, stronger, and more comprehensive than ever before.”
The company’s technology is already integrated on parts of the network of Bezeq, Israel’s largest telecommunications operator. It is also currently operating pilot programs in Europe and North America. SAM has successfully monitored over 4 million devices, enriching its artificial intelligence cloud to reveal new attack patterns such as backdoors to IoT devices, and creating advanced security policies.
SAM Seamless Network provides ISPs and telecommunications companies with a cybersecurity software-based solution that protects any network, including home, small home offices (SOHO) and small to medium business (SMBs) by securing the gateway and all of its connected devices. The software is installed on top of any gateway (legacy and pre-market), without necessitating additional manpower. It has an ultra-light footprint, and does not require any extra hardware or additions to be installed on the connected devices. SAM’s solution can be optimized for any network by customizing security policies according to the connected devices and their behavioral signature, isolating suspicious entities and using advanced AI algorithms in order to detect anomalies. In addition to cybersecurity abilities, SAM helps ISPs and telecommunications companies enrich their value proposition for their customers by providing network visibility, management abilities, and parental control.
SAM provides a software-based security solution that integrates seamlessly with any platform and protects local area networks by securing the gateway and all of its connected devices. Installed remotely on existing gateways, SAM doesn’t require any additional hardware or a technician to provide comprehensive network security. The solution is offered as a service, allowing users to have the enterprise-grade protection including virtually patching vulnerabilities such as KRACK and other high-level, targeted attacks. SAM works with leading chipset manufacturers, including Intel, to provide network security from the source. To learn more about SAM, visit www.SecuringSam.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 or follow @Intelcapital.
ADT is a leading provider of security and automation solutions for homes and businesses in the United States and Canada, people on-the-go and their networks. Making security more accessible than ever before, and backed by 24/7 customer support, ADT is committed to providing superior customer service with a focus on speed and quality of responsiveness, helping customers feel safer and empowered. ADT is headquartered in Boca Raton, Florida and employs approximately 17,500 people in the United States and Canada.
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.