Shield-IoT Ltd. Company Profile

Background

Shield-IoT Ltd. is a cybersecurity firm specializing in securing 5G and cellular IoT networks. The company's mission is to provide comprehensive visibility, security, and compliance across any SIM-connected device or application at an unlimited scale. By offering an agent-less software platform, Shield-IoT enables IoT connectivity providers to enhance their service offerings with value-added security solutions, thereby creating differentiation and generating new revenue streams. The platform is currently deployed across multiple use cases, serving millions of devices and thousands of business customers.

Key Strategic Focus

Shield-IoT's strategic focus centers on delivering an agent-less IoT cybersecurity platform that offers:

Operational Visibility: Continuous monitoring of IoT networks to provide insights into asset risk, network behavior, and usage trends.

Threat Management: Utilizing industry-first Coreset-AI network anomaly detection, combined with threat intelligence and rule-based detection engines, to identify and mitigate cyber threats.

Compliance: Ensuring adherence to data privacy and business continuity security standards through continuous IoT network monitoring and automated reporting.

The platform is designed to be frictionless, requiring no device installations or network changes, and is applicable to any connected device or application. It supports various IoT applications, including payments, EV charging stations, transportation, smart cities, medical devices, smart grids, and defense networks.

Financials and Funding

Since its inception in 2017, Shield-IoT has secured a total of $11 million in funding. The funding history includes:

Seed Round (July 2017): Raised $1 million.

Seed Round (September 2019): Raised $3.6 million.

Series A (November 2021): Raised $7.4 million.

Notable investors include Bloc Ventures, NextLeap Ventures, Akamai Technologies, Atlas Ventures, DIVEdigital, Janvest Capital Partners, and Springtide Ventures. The capital raised is intended to enhance the company's cybersecurity solutions and expand its market presence.

Technological Platform and Innovation

Shield-IoT's platform is distinguished by its proprietary technologies and innovative methodologies:

Coreset-AI Technology: A patented data-reduction technique that transforms large-scale IoT data into manageable datasets, enabling accurate anomaly detection in minutes.

Agent-less Architecture: The platform operates without the need for device installations or network modifications, ensuring seamless integration and minimal operational disruption.

Scalability: Designed to handle networks of millions of devices, the platform offers unlimited growth potential, making it suitable for large-scale IoT deployments.

These technological advancements position Shield-IoT as a leader in providing scalable and efficient IoT security solutions.

Leadership Team

Shield-IoT is led by a team of seasoned professionals with extensive experience in cybersecurity, AI, and IoT:

Udi Solomon, Chief Executive Officer: With over 20 years in the industry, Udi has a proven track record in leading successful security products. Prior to founding Shield-IoT, he served as Vice President of Products at ThetaRay and held pivotal roles at Checkpoint, SanDisk, Alvarion, and AGT/3i-MIND. He holds an MBA from the Technion University and a BSc in Computer Science & Electrical Engineering from Tel Aviv University.

Noam Segev, Chief Revenue Officer: An international sales leader in the cybersecurity software industry, Noam has over 20 years of experience in evangelizing new technologies. He specializes in developing international sales channels and leading diversified sales teams across EMEA, APAC, and the Americas. Prior to Shield-IoT, Noam held leadership sales roles at Pentera Security and Comsec Group.

Motty Cohen, Chief Technology Officer and VP of R&D: With over 25 years of industry experience, Motty has a proven track record in leading complex, mission-critical, large-scale systems and distributed R&D teams. His expertise spans multidisciplinary C4I Systems, Video Analytics, Big Data, and AI. Prior to joining Shield-IoT, Motty served as Vice President of R&D at Agent Vi and held key roles at Better Place, eXelate, and homeland security organizations.

Shani Yakobovski, Chief Financial Officer: Shani has been working within the global high-tech and startup sectors since 2006. She holds an MBA in Management and a B.A. in Accounting and Economics (magna cum laude) from Tel Aviv University and is a Certified Public Accountant in Israel. In recent years, Shani has focused on leading the CFO role for both large and small-scale high-tech companies.

Alon Shalev, Vice President of Product: An experienced product leader with over a decade of expertise in cybersecurity, specializing in cloud and IoT security. Alon has played pivotal roles at NSO Group and Dome9 (acquired by Check Point), contributing to the development of advanced security solutions. As the co-founder of DeviceTotal and Luchs Security GmbH, he has led the creation of cutting-edge solutions that help companies secure their IoT devices from concept to release.

Prof. Dan Feldman, Chief Scientist: A worldwide leader in the research of Coreset technology, with over 150 academic papers and 4,900 citations. His research focuses on data-reduction techniques for AI and Machine Learning across multiple domains, including IoT device networks. Prof. Feldman has undertaken research at MIT, Caltech, and Haifa University.

Competitor Profile

Market Insights and Dynamics

The IoT security market is experiencing significant growth, driven by the proliferation of connected devices and the increasing need for robust security solutions. As IoT networks expand, the demand for comprehensive security platforms that can monitor and protect diverse devices and applications is escalating.

Competitor Analysis

Shield-IoT operates in a competitive landscape with several key players:

Anodot: Founded in 2014, Anodot specializes in real-time analytics and anomaly detection, offering solutions that monitor business operations and detect anomalies across various industries.

Mocana: Established in 2002, Mocana provides cybersecurity solutions for IoT and industrial control systems, focusing on securing devices and ensuring the integrity of data communications.

Anomali: Founded in 2013, Anomali offers threat intelligence platforms that help organizations detect and respond to cyber threats, leveraging machine learning and big data analytics.

Nozomi Networks: Specializes in operational technology (OT) and IoT cybersecurity and visibility, providing solutions that monitor and protect industrial networks.

SAM Seamless Network: Provides cloud-native security and intelligence services for unmanaged networks and IoT devices, focusing on protecting home and SMB networks.

Strategic Collaborations and Partnerships

Shield-IoT has established significant partnerships to enhance its market position and expand capabilities:

Stefanini Cyber Defense: In May 2023, Shield-IoT partnered with Stefanini Cyber Defense to offer a global solution for securing connected devices at mass scale. This collaboration enables Stefanini's customers across multiple IoT/IIoT verticals to seamlessly protect any connected device or application across any network.

Operational Insights

Shield-IoT's agent-less, scalable platform provides a distinct competitive advantage by offering seamless integration without the need for device installations or network changes. This approach allows for rapid deployment and minimal operational disruption, appealing to enterprises seeking efficient and effective IoT security solutions.

Strategic Opportunities and Future Directions

Looking ahead, Shield-IoT is poised to capitalize on the growing demand for IoT security solutions. The company's focus on continuous innovation, strategic partnerships, and expanding its technological capabilities positions it to address emerging threats and meet the evolving needs of the IoT landscape.