Concept: Tennessee’s startup Phosphorus Cybersecurity (Phosphorus) has launched a security platform to secure IoT devices. It enables deep insight into all embedded devices on the network, as well as the ability to upgrade all of a company’s IoT devices to the latest software and rotate credentials with a single click.
Nature of Disruption: The Phosphorus scanner detects all IP-enabled IoT devices on the network with a light touch, without knocking them over. Every IoT device on a company’s network would be identified down to the make and model. It’s built to communicate with and identify IoT devices without being too intrusive. Users can see every device down to the make, unsupported devices, model, firmware version, and default credentials. The platform can rotate credentials on the user’s IoT devices automatically and regularly to keep them compliant. Phosphorus enrolls devices with default credentials in the Privileged Access Management (PAM) tool and rotates the credentials when it detects them. Simple credential management with Phosphorus secures security camera feeds, papers in the printer queue, and door controls. It protects devices with safe configurations and secure passwords against malicious elements creating a back door entry. With robust credential management, attacks like the Mirai Botnet and insider threats become unachievable. Phosphorus allows security teams to update all of their IoT devices’ firmware with a single click, protecting agentless endpoints against vulnerabilities.
Outlook: The majority of IoT devices in use today are unsecured and vulnerable to a broad range of threats, exposing businesses to a variety of catastrophic dangers ranging from data breaches to ransomware. As the number of IoT devices grows, so does the size of the unprotected and often undiscovered cyber-attack surface. Furthermore, prior cybersecurity solutions have primarily focused on risk detection rather than actual risk repair and avoidance. Phosphorus addresses this concern by disrupting the cybersecurity sector with its capabilities for strengthening and defending IoT infrastructure. Phosphorus allows enterprises to grow IoT technologies without hiring extra staff to secure them by providing automated security solutions against IoT’s most important vulnerabilities. In February 2022, the startup raised $38M in a Series A funding round co-led by SYN Ventures and MassMutual Ventures. The funds will be utilized to drive the startup’s quick growth and technology development for its Security of Things comprehensive solutions, as well as to improve the user experience and increase inbound demand. It also intends to improve its technology platform with new features such as expanded device coverage and more easy collaboration with security systems. In 2022, self-service demos and deployment are planned to be made available.