McLean, Virginia-based RunSafe Security, a provider of a patented cyberhardening process for vulnerable embedded systems and devices across critical infrastructure, has raised $2.4 million in seed funding. The lead investor was Alsop Louie Partner.
McLean, VA, May 16, 2018 – RunSafe Security, pioneer of a patented cyberhardening process for vulnerable embedded systems and devices across critical infrastructure, today announced the summer release of Software Guardian, its proprietary binary hardening technology built to reduce vulnerabilities and deny malware the uniformity needed to propagate. This product protects embedded software across critical infrastructure, thereby ensuring continuity of operations. RunSafe is led by a seasoned team with multiple exits, including the sale of enterprise mobile device configuration security to Samsung. Its first customers include both Fortune 1000s and federal government agencies with an urgent need to shrink attack surfaces and minimize vulnerabilities that historically have a high consequence of failure.
“We founded RunSafe Security to proactively disrupt hacker economics at their root cause, rendering cyber threats inert,” said Joe Saunders, RunSafe Security CEO. “Today, the world’s most critical infrastructure relies on legacy systems and devices that are at high risk of cyberattack. Most solutions fail to stop threats before they mature. RunSafe’s vision is to flip this dynamic, and give the advantage to defenders. My team and I are extremely gratified by the wave of early interest in RunSafe and are thankful to our initial customers and investors for their support of our vision.”
The Need to Cyberharden Vulnerable Embedded Systems & Devices
CSO predicts that cybercrime damages will reach an unprecedented $6 trillion by 2021. Cyberattacks often leverage memory corruption errors and buffer overflow exploits to manipulate embedded software and devices – enabling unauthorized access. To reduce this attack surface, RunSafe Security deploys a cyberhardening transformation process that makes each device functionally identical and logically unique.
RunSafe’s Software Guardian prevents malware from changing how commands are executed, thus denying exploits the standardization required to take remote execution and control of a device or to propagate across multiple devices and networks. RunSafe disrupts and denies attackers’ preferred tactics, which empowers organizations to maintain continuity of mission-critical operations.
Investment, Awards & New Office Propels RunSafe Into Embedded Device Security Market
Having recently concluded its participation in the prestigious CIT Mach37 Cyber Accelerator, RunSafe Security also announced today that it has closed a $2.4 million seed funding round led by Alsop Louie Partners, an early-stage, risk-oriented technology venture capital firm in San Francisco.
The Center for Innovative Technology, which helps entrepreneurs launch and grow technology companies, also participated in the round via its Gap Fund. In addition to investment momentum, RunSafe enters the market having recently garnered several prestigious third-party awards and recognition for its cyberhardening technology, including:
Mid-Atlantic Venture Association (MAVA) TechBUZZ 20th Edition Presenter
Cybersecurity Innovator of the Year, Greater Washington Innovation Awards
Info-Security Products Guide Gold Winner, Security Start Up of the Year
Key Innovator “RASP Global Forecast to 2022” Research and Markets Study
“The embedded systems and devices essential to power plants, data centers, utilities, nuclear facilities, military assets and other critical infrastructure organizations face growing and documented risk from cyberattacks,” said Bill Crowell, Partner at Alsop Louie. “While most security for industrial control systems (ICS) and the industrial internet of things (IIoT) focuses on intrusion detection, and looking for anomalies, RunSafe Security is focused on mitigation and denying malware the uniformity it needs to spread. We are extremely impressed by RunSafe’s technology and brainpower and look forward to helping this company dominate its market.”
RunSafe Security is headquartered in McLean, VA with a new office in Huntsville, AL. The additional location hosts its decorated engineering team, which is comprised of former Raytheon, Scientific Atlanta and NSA professionals with backgrounds spanning defensive and offensive cyber operations, automated and manual binary modification, and reverse engineering.
For more information on RunSafe and to request its latest whitepaper, visit www.runsafesecurity.com.
About RunSafe Security
RunSafe Security is the pioneer of a patented cyberhardening transformation process designed to disrupt attackers and protect vulnerable embedded systems and devices. With the ability to make each device functionally identical but logically unique, RunSafe Security renders threats inert by eliminating attack vectors, significantly reducing vulnerabilities and denying malware the uniformity required to propagate. Headquartered in McLean, Virginia, with an office in Huntsville, Alabama, RunSafe Security’s customers span the critical infrastructure, IIoT, automotive, medical, and national security industries.