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Intel Capital leads $12 million round for SAM Seamless Network and its home IoT security system

SAM Seamless Network today announced that it has raised $12 million in venture capital in a round led by Intel Capital.

The Israeli startup makes a home IoT network security system that operates at a network level to provide protection for all connected devices in the home. The service sits at the router entry point as a safeguard.

“We can no longer accept connectivity without security. People are often unaware of how many risks their home networks face every day,” said SAM CEO Sivan Rauscher in a statement. “By making it possible for ISPs to offer their customers secure connections and prevent daily attacks, SAM is enriching their offerings and sharing invaluable and real-time data about incoming security threats.”

Connected gadgets have become a notorious weak spot in terms of cybersecurity. With many connected gadgets lacking even the most basic of protections, companies have increasingly been turning to solutions that offer defense across the entire range of products consumers may choose to install.

In a press release, SAM noted that Gartner projects there will be 20.4 billion connected objects by 2020, but there is already an average of 5 attacks per day per home.

Besides Intel, the round included investment from Dave DeWalt’s (former CEO of McAfee and FireEye) NightDragon, ADT, and Blumberg Capital. SAM says it will use the money to develop its machine learning research and expand deeper in U.S. and European markets. SAM has now raised a total of $16 million.

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Source: VentureBeat

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