Device Authority, a global pioneer in Identity and Access Management for Enterprise IoT ecosystems, announced $7M in Series A funding from Ten Eleven Ventures, a global venture capital firm specialising 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 unauthorised access, and ensuring compliance.
