Mocana, the leading provider of device security solutions for IoT and industrial control systems, today announced that the company completed the first close of $15 million in new financing to accelerate the development of its TrustCenter™ IoT device security platform to meet growing demand.
This investment was led by Sway Ventures with existing investors Shasta Ventures and ForgePoint Capital (formerly Trident Cyber) also participating. With the additional funding, Mocana’s funding to date is $105 million.
Mocana is addressing a cybersecurity problem that is costing companies tens of billions of dollars per year. Hackers are bypassing traditional IT network security approaches by attacking IoT and connected industrial and enterprise devices from within private networks by using phishing emails and physical intrusions to target the most vulnerable devices.
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