Mon. Mar 20th, 2023

Firmware Security Startup Binarly Raises $3.6 Million in Seed Funding

Firmware security company Binarly on Wednesday announced that it has raised $3.6 million in a seed funding round led by Westwave Capital and Acrobator Ventures.

Several angel investors also took part in the seed round, which will help the startup speed up R&D initiatives, expand its engineering team, and scale adoption of its technologies.

The Los Angeles, California-based Binarly has developed a SaaS platform designed for firmware threat identification and response. The company says its solutions are used by security teams to identify vulnerabilities and malicious firmware modifications. Its platform can also be used to gain firmware SBOM visibility without access to source code.

Binarly has also created technology for firmware vulnerability management and supply chain protection.

“The current approach in the industry is to detect risks related to the firmware by leveraging the current version number of the firmware update against a public database of vulnerabilities and threats. This leads to firmware supply chain failures because known vulnerabilities that are not associated with a certain version number of a firmware release will not be detected, thus keeping the ‘doors’ open for an attacker,” said Alex Matrosov, co-founder and CEO of Binarly.

Claudiu Teodorescu, Binarly co-founder and CTO, added, “Assessing the impact of a known firmware-based vulnerability in a customer environment, at scale, is a problem without a viable solution. We have developed the FwHunt technology that adds semantic context around a known vulnerability to ensure detection while reducing false positives.”

Binarly has identified firmware vulnerabilities in products from major manufacturers such as AMI, AMD, Dell, Fujitsu, HP, Insyde, Intel and Lenovo. The startup claims to have identified more than 100 new flaws this year alone.

Last year, the company’s researchers described new attack methods that could be used to “blind” cybersecurity products.


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