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Hardware-based cybersecurity startup raises funds to safeguard the IoT

Market news |
By Rich Pell

Dover offers a hardware-based cybersecurity solution – called CoreGuard – geared toward protecting the processors in embedded devices and industrial IoT. The investment, says Dover, will enable it to expand engineering and product development efforts, while also providing marketing and sales support for vertical industries such as semiconductor, automotive, medical, energy, point of sale, and connected home.

CoreGuard was specifically designed to address vulnerabilities in the software running in the increasing number of connected devices – expected to reach 21 billion by 2020. Using a proprietary approach, CoreGuard enables hardware to enforce updatable security policies to defend processors and embedded systems against all network-based attacks.

“Today’s cybersecurity solutions have left companies and individuals even more exposed,” says Jothy Rosenberg, Dover Microsystems co-founder and CEO. “By rethinking cybersecurity and leveraging a hardware-based approach, we can eliminate network-based attacks and safeguard embedded devices from attacks that target software vulnerabilities. With the recent infusion from our investors, our mission will be to further evangelize true cybersecurity and continue to deliver trusted solutions that bring security, safety, and privacy to the IoT industry.”

Dover was spun out of not-for-profit R&D organization Draper (Cambridge, MA) last year to provide the commercial sector with access to its hardware-based, defense-grade cybersecurity solution. Draper – officially named “The Charles Stark Draper Laboratory” – specializes in the design, development, and deployment of advanced technology solutions to problems in national security, space exploration, health care, and energy.

The seed financing was led by Hyperplane Venture Capital, a firm specializing in investments in full-stack machine intelligence companies. Additional funding was provided by Draper, Qualcomm Ventures, the investment arm of Qualcomm Incorporated, and the Hub Angels Investment Group.

Dover Microsystems

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