Network Airspace Protection (NAP) provider AirEye announced that it had raised $ 8 million in Series A. The round was led by US Venture Partners and Steve Krausz, General Partner at USVP, has joined the board of directors of the company. Canaan Partners also participated in the round.
According to a 2019 survey, 72% of corporate data breaches came from unsecured wireless devices. Modern malware, like Emotet, already incorporates these capabilities to spread attacks across networks. Digital airborne attacks bypass all network security solutions such as network firewalls, NAC or DLP solutions. The increase in such attacks is a consequence of the prevalence of wireless devices in the perimeter of corporate airspace – something that has only accelerated due to Covid-19 and work-from-home policies. implemented by companies.
“AirEye addresses the largest unprotected and therefore vulnerable network environment – the digital corporate airspace,” said Shlomo Touboul, CEO and co-founder of AirEye. “The company has done extensive research on vulnerabilities and attacks and coined the term Antenna for Hire to describe devices that attackers can remotely take to compromise the corporate network. Vulnerable wireless devices function as an antenna for rent outside the network which therefore cannot be properly protected by today’s IoT security solutions. Attackers exploit Antenna for Hire to gain unauthorized access to the corporate network, hijack a corporate device, or cause a data leak. Recent AirEye research found that an average of 40,000 potential rental antennas are located near a typical organization.
The cybersecurity space can be compared to the eve of the First World War. The soldiers never imagined that the sky above them could be used as space for war – until they were. Since then, the skies have dominated modern battlefields and so has cybersecurity following the explosion of uncontrolled wireless devices. “AirEye is the first and only complete solution to this new attack vector,” said Jacques Benkoski, partner at USVP. “Businesses need to prepare for the unknown and the unexpected and that now includes airborne digital attacks. Security teams are often defeated when they suffer from a lack of imagination.
Steve Krausz, partner at USVP who joined the board, added that “Addressing the growing vulnerability to airspace attacks is an extremely complex problem. This requires both cybersecurity and RF transmission expertise. These technical disciplines are rarely found in a single team. At AirEye, co-founders with decades of cybersecurity expertise have joined forces with experienced wireless experts to create a unique company for one of today’s rapidly growing security threats.
AirEye provides protection against aerial attacks launched against organizational networks. Its SaaS platform complements the security of existing corporate networks and monitors wireless communications in real time. Its solution can be used in a variety of industries including finance, banking, telecommunications, healthcare, manufacturing, retail, and aerospace. USVP is a Silicon Valley-based venture capital firm and has invested in over 500 companies over 40 years. It focuses on early stage start-ups transforming cybersecurity, business software, consumers, and healthcare.