Phosphorus also revealed alarming statistics about xIoT vulnerabilities, with 75% of devices operating with default passwords and 70% having high to critical vulnerabilities. The company's platform addresses these issues by enhancing security hygiene among its customers through firmware updates and password rotations. The new funding will be used to accelerate Phosphorus' research and development and go-to-market initiatives, in response to the increasing demand for its CPS Protection Platform.
Key takeaways:
- Phosphorus Cybersecurity Inc., a Nashville-based company that offers security and device management for the extended Internet of Things (xIoT), has announced a $27 million funding round led by Evolution Equity Partners.
- The xIoT differs from the regular IoT in its scope, referring to even more categories of devices, including non-consumer facing devices like industrial control systems, consoles, sensors, and other specialized hardware.
- Phosphorus offers a unique Unified xIoT Security Management Platform that provides complete discovery, remediation, and security management across a vast spectrum of devices on the xIoT.
- Phosphorus reveals alarming statistics about xIoT vulnerabilities, with 75% of devices operating with default passwords, 70% having high to critical vulnerabilities, and 30% being end-of-life, unsupported models.