What is Device Authority?
Device Authority is globally recognized for its expertise in identity and access management (IAM) tailored for the Internet of Things (IoT) ecosystem. The company's flagship KeyScaler platform is engineered to establish trust for IoT devices and their associated environments, effectively tackling the complex security challenges inherent in the proliferation of connected devices. Leveraging proprietary technologies like Dynamic Device Key Generation (DDKG) and PKI Signature+, KeyScaler simplifies and fortifies IoT security. Its capabilities encompass automated device provisioning, robust authentication, credential management, policy-driven end-to-end data security and encryption, and secure over-the-air updates, making it a vital solution for organizations deploying IoT at scale.
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 Alsop Louie Partners and Tern
Other Financing Round (2016): $1.8M led by Alsop Louie Partners, Tern PLC, and Tern
Private Equity (2017): $10M, investors not publicly disclosed
Unspecified (2021): $2.9M featuring ALP, Tern, and Venafi
Series A (2024): $9M backed by Prelude Capital and TenEleven Ventures
Key Investors in Device Authority
Prelude Capital
Prelude Capital is a global multi-strategy hedge fund adviser that focuses on structured, risk-managed allocations across diverse markets. Established in 2010, they emphasize long-term relationships and serve institutional investors seeking innovative investment solutions.
TenEleven Ventures
Ten Eleven Ventures is a multi-stage global venture capital firm dedicated to investing in innovative cybersecurity companies. They provide capital, connections, and expertise to help founders build essential cybersecurity technologies and enhance global commerce security.
Venafi
Venafi is a cybersecurity company specializing in software for securing and protecting cryptographic keys and digital certificates, addressing critical security needs for organizations.
What's next for Device Authority?
The recent major strategic investment signals a pivotal growth phase for Device Authority, likely enabling the company to accelerate its product development, expand its market reach, and enhance its sales and marketing efforts. This capital infusion, particularly within the context of enterprise-level funding, suggests a strategic focus on scaling operations and solidifying its position as a leader in IoT security. The company is poised to further capitalize on the increasing demand for secure IoT solutions, driven by digital transformation initiatives across various sectors. Future endeavors will likely involve deepening partnerships and expanding the capabilities of the KeyScaler platform to address emerging threats and evolving industry standards.
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