As CrowdStrike updates continue to wreak havoc around the world, one startup has raised $13.5 million to provide at least some security to the types of devices affected: California-based ZeroTier has raised Series A funding in a funding round led by Battery Ventures.
While established players such as Cisco and Palo Alto Networks typically secure edge networks, new pioneers in the field are thought to be focusing on devices. This is where ZeroTier steps in, claiming that it currently supports more than 3 million connected devices and 600,000 network administrators in more than 230 countries and regions around the world.
The company hired former venture capitalist Andrew Gault to lead the company and focus on revenue and growth after founder Adam Yermenko moved to CTO in May to focus on core technology and long-term vision, according to spokeswoman Jenefer Trager. Gault previously co-founded Gaikai, a video game streaming platform that sold to Sony for $380 million in 2012, and was an early investor in Oculus VR. He is also a co-founder of 7percent Ventures.
Galt believes there aren't many scalable, vendor-agnostic options available to enterprises today. “Our niche in the market is device-centric, but less servers and laptops and more routers and sensors. There are 18 billion devices online today, and that's expected to grow to 32 billion by 2030, but secure connectivity is an open problem. We create secure connections between all these devices so they can communicate as if they were on the office's local network. That's where I'm headed,” he told TechCrunch over the phone.
ZeroTier's customers include Metropolis, which offers a checkout-free parking payment service.
Bonfire Ventures, Anorak Ventures, Grand Enterprises BV, Airbridge Equity Partners and First In Ventures also participated in the round.