SAM is a cybersecurity technology platform that runs seamlessly on any gateway, protects the home network and all its connected devices.
A wave of security startups have built solutions for enterprises that are meeting the challenges of “consumerization”, where IT organizations are tasked with securing a range of devices and apps — some brought in by employees, not issued by IT — that are on the organization’s networks. Today, a startup based out of Israel that is taking a similar approach, but aimed at consumers and the plethora of devices now connected to their home networks, is announcing a round of funding. SAM — which provides a system administered by way of a home or small office/home office internet router to monitor connected devices for suspicious activity — has raised a $12 million in funding.
The Series A includes interesting strategic investors. Led by Intel Capital, the round also includes participation from home security giant ADP, NightDragon (a cybersecurity-focused VC founded by Dave DeWalt, the former CEO of FireEye and McAfee) and Blumberg Capital.
Intel is already integrating SAM’s tech into its hardware, and ADT is evaluating how it can do so right now, said Sivan Rauscher, the CEO who first cut her teeth working on cybersecurity in the Israeli army before co-founding SAM with CTO Eilon Lotem and Vice Chairman Shmuel Chafets.
Prior to this round, SAM first emerged from stealth in February 2018 with $4 million from backers that included Team8, the well-supported VC-company incubator, whose co-founders Nadav Zafir, Israel Grimberg, and Liran Grinberg now also serve as advisors to the startup.
One of the reasons for following that up relatively quickly with more funding is because SAM has already signed some deals and it’s making its way into the market. Rauscher said that the first services using the startup’s tech will go live in Germany, Belgium and UK soon. (She declined to name the telcos that will roll it out, since “they want to keep the element of surprise,” she said.) It’s also already deployed across some 4 million devices by way of Israeli carrier Bezeq.
The company is notable because in the world of cybersecurity, many of the most talented people and companies are focused on targeting the enterprise market. In a way, that is not a surprise, since these typically are larger and more complex networks, and a larger amount of data is more immediately at stake.
(And you could argue that in fact this is also an enterprise play, since SAM is working with telcos to provide services to consumers: “We have an agenda to protect the end user but also the carrier as well,” Rauscher said.)
SAM is coming into the market at a key time.