ZeroTier has raised $13.5 million to enhance its solutions for preventing network issues similar to those experienced by CrowdStrike
A startup has raised $13.5 million to enhance the security of the devices impacted by the CrowdStrike update, which is still causing widespread disruptions. Battery Ventures led the Series A funding round that ZeroTier, a California-based company, completed.
The new vanguard of this sector is perceived as being more concentrated on devices, whereas legacy companies such as Cisco or Palo Alto Networks typically secure edge networks.
ZeroTier operates in this arena and has asserted that it can support over 3 million connected devices and 600,000 network administrators in more than 230 countries and territories worldwide.
Additionally, the company has recruited Andrew Gault, a former venture investor, to serve as its CEO in May of this year.
Gault’s primary objectives are to oversee revenue and company expansion following the transition of founder Adam Ierymenko to the position of Chief Technology Officer to concentrate on the company’s core technology and long-term objectives, as per spokesperson Jennifer Traeger.
Gault was the initial investor in OculusV.R.VR. and co-founded Gaikai, a video game streaming platform sold to Sony in 2012 for $380 million. Additionally, he was a founding partner of 7percent Ventures.
Gault believes there are currently few scalable, vendor-agnostic options available to enterprises: “I believe that our market niche is significantly more device-centric, with a lower concentration of servers and laptops and a higher concentration of routers and sensors.”
There are currently 18 billion devices online, with an anticipated increase to 32 billion by 2030. However, secure connectivity remains an unresolved issue.
We establish secure connections between all these devices, enabling them to communicate as if on a local network in your office. During a telephone conversation with TechCrunch, he stated, “I am interested in pursuing that market.”
Metropolis, a company that provides parking payments without checkout, is among ZeroTier’s customers.
Bonfire, Anorak, Grand EnterprisesB.V.., Airbridge Equity Partners, and First In Ventures also attended the round.