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BMW I Ventures Invests $12 Million In RunSafe Security To Enhance Cybersecurity For Critical Infrastructure
BMW i Ventures has announced its involvement in a $12 million Series B funding round for RunSafe Security, a cybersecurity firm known for software immunization. The funding round was led by Critical Ventures and SineWave Venture Partners, with participation from several other investors. RunSafe Security plans to use the funds to enhance product development and expand its market presence in EMEA and APAC regions.
The investment aims to support RunSafe Security's efforts in developing innovative solutions that protect critical systems from cyber threats without requiring extensive code changes. Joe Saunders, CEO of RunSafe, highlighted the company's success in securing partnerships with industry leaders like Vertiv, Schneider Electric, and GE Aviation. Additionally, branches of the U.S. military, including the Army, Navy, and Air Force, have adopted their products.
RunSafe Security's patented technology safeguards software from cyberattacks while maintaining developer operations. This approach has led to significant growth for the company, with annualized revenue tripling over consecutive years. Their solutions are widely used across sectors such as aerospace, defense, and energy.
Kasper Sage, Managing Partner at BMW i Ventures, emphasized the importance of cybersecurity in connected devices. "Memory attacks pose an increasing threat to embedded systems within connected devices," he said. "RunSafe's cybersecurity technology immunizes memory-based systems from unknown vulnerabilities and future attacks." This partnership aligns with BMW i Ventures' commitment to enhancing safety measures across various industries.
The investment also reinforces BMW i Ventures' role in fostering innovation within the automotive sector and beyond. The venture capital firm focuses on early to growth-stage companies shaping the future of automotive technology and sustainability. Since 2011, they have managed $800 million and invested in over 75 startups worldwide.
Expanding Market Reach
With this new funding, RunSafe Security aims to expand its platform further into critical infrastructure sectors. The company offers automated solutions for generating SBOMs (Software Bill of Materials), identifying vulnerabilities, and preventing exploits in embedded software systems.
RunSafe Security is headquartered in McLean, Virginia, with an additional office in Huntsville, Alabama. Their customer base spans various industries including aerospace, defense, energy, industrial sectors as well as national security verticals.
This strategic investment by BMW i Ventures highlights their dedication to advancing security technologies that address emerging threats across multiple domains.
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