March 23, 2024 at 12:06AM
Finite State, a software risk management firm, has secured $20 million in growth funding led by Energy Impact Partners. The Columbus-based company specializes in cybersecurity controls at the firmware layer to secure the device supply chain and mitigate risks in OT and IT environments. The funding will support product development and global market expansion, bringing its total funding to $70 million.
Key takeaways from the meeting notes:
– Finite State, a software risk management firm, has successfully raised $20 million in growth funding in a round led by Energy Impact Partners (EIP).
– The Columbus, Ohio-based company, founded in 2017, focuses on providing cybersecurity controls at the firmware layer to secure the device supply chain and mitigate risks to OT and IT environments.
– The company’s platform offers SBOM management, software composition analysis, and risk analysis, in addition to correlation from third-party scanners, to help organizations identify supply-chain risks and gain visibility into vulnerabilities in connected devices and embedded systems.
– CEO and Founder Matt Wyckhouse emphasized the significance of this funding round, citing the trust and confidence their investors have placed in the company’s mission to address vulnerabilities in the global digital landscape.
– The funding will be used to expedite product development efforts and expand Finite State’s market presence on a global scale.
– This funding round brings the total funding raised by Finite State to approximately $70 million, following a $30 million Series B funding in August 2021.