mPrest Raises $20M From GE, OurCrowd

Jan. 25, 2016 | Israeli IoT cybersecurity startup mPrest announced today that it has raised a $20 million Series A round of funding, led by GE Ventures, the venture arm of GE, and OurCrowd, one of the leading equity crowdfunding platforms. mPrest will use the investment to expand its international presence in the industrial and commercial markets and rapidly scale up to meet the needs of the IoT world. Founded in 2003 and led by CEO Natan Barak, mPrest has developed software for “connecting the dots” across multiple systems, providing mission-critical monitoring and control software for the Internet of Things (IoT) in critical infrastructure sectors, including defense and security bodies, electric and water utilities, smart cities and buildings, fleet management companies and other large organizations around the world. “mPrest has created a scalable software platform for smart asset management that has great industrial applications,” said Jonathan Pulitzer, managing director at GE Ventures. “We look forward to potentially partnering with mPrest and exploring applications of their technology for GE.” For the past six years, mPrest has also been a strategic partner with Rafael Advanced Defense Systems to supply the command and control system for the Iron Dome air-defense system, as well as many other large projects.