ZingBox, an IoT security solution provider, announced having raised $22 million in a Series B round led by Dell Technologies and Tri Ventures. The IoT based company offers a revolutionary approach to security through non-intrusive, clientless, cloud-based technologies.
According to Raman Khanna, Managing Director, Dell technologies Capital, with an increase in hospitals, retailers and IoT solutions, ZingBox’s approach will aid them to overcome the challenge of security.
The company aims to employ this additional budget to quicken product capabilities and widen its market outreach this year. It also intends to tackle several IoT related security challenges which companies face through its IoT Guardian technology.
ZingBox was envisioned by Xu Zou, May Wang and Jianlin to realise the full benefit of IoT devices with its unique and innovative philosophies. Its most well known solution IoT Guardian is based on device personalities which utilise concepts of machine learning to discover and assess risk, detect anomalies and offer real-time remedies. ZingBox said in a statement, “The patent-pending solution has a deep grasp of each IoT device’s personality, analysing communication to and from every device, watching constantly for deviations in behaviour and providing alerts for suspicious behaviour.”
The startup was also featured in Gartner’s ‘Cool Vendors in the internet of Things, 2017’ report. The company also recently partnered with SoftBank C&S which promised its introduction in Japanese markets with a vision of expanding its global reach.