Device Authority secures $7M funding for Enterprise IoT security

Device Authority, a global leader in Identity and Access Management for Enterprise IoT ecosystems, announced $7M in Series A funding from Ten Eleven Ventures, a global venture capital firm specializing in cybersecurity. The investment follows Device Authority’s prestigious Microsoft Global Partner of the Year award and the launch of the company’s new KeyScaler AI solution.

The growing complexity of Enterprise IoT ecosystems makes device security increasingly vital. As the global number of IoT devices is projected to reach 41.6 billion by 2025 and the number of IoT-focused cyber attacks rose to over 112 million in 2022 according to Statista, effective identity and access management is a foundational element in mitigating security risks, preventing unauthorized access, and ensuring compliance.

Tern plc (LON:TERN) backs exciting, high growth IoT innovators in Europe. They provide support and create a genuinely collaborative environment for talented, well-motivated teams. Device Authority is focused on securing connected device ecosystems and is recognized as the global leader in Device Identity Lifecycle Management and Identity and Access Management (IAM) for the Internet of Things (IoT).

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