The digital landscape continues to evolve at a rapid pace, leading to an increased reliance on the Internet of Things (IoT) devices. With an expected surge from 35 billion connected devices today to over 75 billion by 2025, the urgency to secure these devices has never been more critical. Enter Ordr, a cybersecurity startup aiming to bridge the “visibility gap” that plagues many organizations.

Understanding the Rise of IoT Devices

In just a few years, IoT devices have transitioned from niche innovations to essential components of everyday operations across various sectors. Unfortunately, as the number of connected devices swells, so does the potential attack surface available to cybercriminals. From smart medical devices in healthcare to industrial sensors, the imperative to protect these devices grows stronger, as does the detection and response to vulnerabilities.

The Visionaries Behind Ordr

Founded in 2015 by technology veterans Pandian Gnanaprakasam and Sheausong Yang, Ordr aims to reform the approach organizations take towards network security. Both co-founders bring significant experience from their careers at major tech companies, such as Cisco and Aruba Networks. As articulated by CEO Greg Murphy, Ordr targets the visibility gap in enterprise networks, where many organizations lack comprehensive oversight of their connected devices.

Funding a Nordic Future

Ordr recently announced a successful $40 million Series C funding round, showcasing the confidence investors have in its strategy and potential. This round, co-led by Battery Ventures and Ten Eleven Ventures, highlights a trend in smart investments as more organizations acknowledge the critical need for cybersecurity solutions amid increasing digital threats. The support from health organizations like Kaiser Permanente Ventures signifies a vital recognition that safeguarding medical devices is paramount.

Growth and Impact

• Over 500 customers, including various government entities.
• 140% year-over-year growth in new customer revenue.
• Deployment in three of the world’s top six hospitals and across 150 manufacturing sites.

As the pandemic expedited the shift to digital, businesses across sectors realized that vulnerabilities within their ecosystems could hamper operations—prompting a reconsideration of their cybersecurity investments. The WannaCry ransomware attack of 2017 served as a wake-up call, highlighting the dire need to secure devices collectively and proactively rather than reactively.

Innovative Solutions for Anomaly Detection

The core of Ordr’s technology lies in its ability to autonomously identify and protect connected devices through its extensive traffic flow analysis and access policies. By deploying atop existing infrastructure, Ordr utilizes machine learning algorithms that build behavior baselines, sending alerts for any anomalous activities. This proactive approach provides organizations a way to continuously learn and adapt to emerging risks.

Addressing False Positives

Despite the sophistication of cybersecurity tools, a 2021 report highlighted that nearly half of all alerts are false positives. Ordr differentiates itself by focusing on the precise behavior of connected devices, building a robust baseline that informs dynamic zero trust enforcement policies. Collecting data from around 1,000 attributes per device, Ordr’s technology can accurately discern genuine threats from benign anomalies.

Looking Ahead: Positive Outlook in a Tough Market

As more organizations realize the necessity of protecting their digital assets, investments in cybersecurity remain robust. The cybersecurity sector saw a record $21.8 billion in investments last year, indicating that even in economically challenging times, the need for innovative solutions persists. Ordr’s dedication to facilitating operational efficiency while securing devices might just position it at the forefront of this critical evolution.

Conclusion

Ordr is navigating a path through an increasingly complex landscape where the proliferation of connected devices presents both opportunities and risks. The recent funding round signals confidence in its vision, and as the startup embarks on expanding its workforce and technical capabilities, it is firmly set on making a substantial impact on cybersecurity practices worldwide. At fxis.ai, we believe that such advancements are crucial for the future of AI, as they enable more comprehensive and effective solutions. Our team is continually exploring new methodologies to push the envelope in artificial intelligence, ensuring that our clients benefit from the latest technological innovations. For more insights, updates, or to collaborate on AI development projects, stay connected with fxis.ai.