What is Device Authority?
Device Authority stands as a global leader in identity and access management (IAM) specifically engineered for the Internet of Things (IoT). By focusing on high-stakes sectors such as medical, healthcare, industrial, automotive, and smart connected devices, the company addresses the fundamental security challenges inherent in modern digital infrastructure. Its proprietary KeyScaler platform serves as the backbone for trust in IoT environments, utilizing breakthrough technologies like Dynamic Device Key Generation (DDKG) and PKI Signature+. These innovations facilitate automated device provisioning, authentication, and policy-based end-to-end data encryption, effectively mitigating risks associated with large-scale device deployment and lifecycle management.
How much funding has Device Authority raised?
Device Authority has raised a total of $26.7M across 5 funding rounds:
Unspecified
$3M
Other Financing Round
$1.8M
Private Equity
$10M
Unspecified
$2.9M
Series A
$9M
Unspecified (2016): $3M with participation from Tern and Alsop Louie Partners
Other Financing Round (2016): $1.8M led by Tern, Tern PLC, and Alsop Louie Partners
Private Equity (2017): $10M, investors not publicly disclosed
Unspecified (2021): $2.9M featuring ALP, Venafi, and Tern
Series A (2024): $9M backed by TenEleven Ventures and Prelude Capital
Key Investors in Device Authority
TenEleven Ventures
A multi-stage global venture capital firm dedicated to fostering innovative cybersecurity companies by providing capital, connections, and deep industry expertise.
Prelude Capital
A global multi-strategy, multi-manager hedge fund adviser managing significant assets with a focus on structured, risk-managed allocations across diverse markets.
Tern
A UK-based investment firm that supports ambitious entrepreneurs in the IoT sector, focusing on ESG practices and helping companies disrupt existing markets.
What's next for Device Authority?
With this recent capital injection, Device Authority is well-positioned to accelerate its product roadmap and expand its footprint in the global cybersecurity market. The company's strategic focus remains on enhancing its KeyScaler platform to address the increasing complexity of IoT security, particularly as industries shift toward more autonomous and interconnected operations. By leveraging its recent funding, Device Authority aims to solidify its market position, drive further innovation in credential management, and continue providing the essential trust architecture required for the next generation of smart, secure, and resilient connected devices.
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