SAM Seamless Network Raises $20M, Led By Blackberry And Verizon

Israeli network cybersecurity company SAM Seamless Network announced on Thursday it has raised $20 million in Series B funding to accelerate the company’s growth.

The round will enable SAM to expand its security tech from currently protecting 2 million networks and 70 million devices globally to securing 10 million networks and 500 million devices by the end of 2021, the company said in a statement.

The new round was led by BlackBerry and Verizon Ventures. Also participating in the round were Blumberg Capital, Intel Capital, ADT and NightDragon.

SAM Seamless Network has raised a total of $34 million to date.

Founded in 2016 by CEO Sivan Rauscher, CTO Eilon Lotem, and Vice Chairman Shmuel Chafets, SAM offers network and IoT security for consumers and small and medium-sized businesses. It does this through an innovative software security solution integrated into the network gateway.

“Since we’re the fastest growing and most widely deployed solution in our space, we’ve been able to improve our behavioral and machine learning techniques to not only detect, but prevent attacks targeting smart devices,” said Sivan Rauscher, CEO of SAM. “Combining our technology with 5G transformation will enable us to more effectively predict unknown attacks.” SAM also recently launched an API-based intelligence service that provides premium device fingerprinting and real-time security for IoT devices that has garnered the attention of enterprises in new markets.”

SAM said will use the investment to drive innovation that brings enterprise-grade intelligence-based security to 5G-connected devices. Its core technology based on device fingerprinting and IoT threat intelligence will leverage the Mobile Edge Computing (MEC) architecture of 5G networks to operate closer to the end device. With increased visibility and reduced latency of 5G connectivity, SAM will be able to make security decisions faster for smart devices wherever they are.

SAM’s technology detects anomalies in device behavior across the network to identify threats and uses aggregated data to ensure safe pathways for legitimate traffic. Investing in new intelligence that incorporates 5G visibility will enable SAM to predict the next widespread attack.  

“With an increase of at-home devices and with more people across the globe gravitating towards independent or remote work, SAM can be used as an enterprise-grade security solution for SMB and home networks,” said Tammy Mahn, Managing Director of Verizon Ventures. “Verizon Ventures looks forward to supporting this seasoned team as they continue to keep consumer devices safe and stand as a leader in software-based cybersecurity.”

“With its powerful and intuitive AI technology, SAM Seamless Network addresses the unique challenges of our hyperconnected world where an explosion of IoT devices exposes potential attack surfaces for companies and consumers alike,” said Anooj Shah, Senior Director, Investments and Strategy for Blackberry. “We are excited to build upon our existing partnership with SAM Seamless Network and support both their market expansion and their mission of delivering simpler network cybersecurity to protect offices and homes.”

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