SAM Seamless Network, the intuitive security system for the home IoT network, has completed a $12 million Series A financing round. The round, led by Intel Capital, includes participation from Blumberg Capital, Dave DeWalt’s NightDragon, and ADT Inc. SAM’s cybersecurity software protects local area networks (LAN) and all of their connected devices directly at the source of entry at the ISPs via the router.
With the new round of funding, SAM is planning to expand its machine learning (ML) research and to further its growth in the US and European markets to meet its customers’ increasing security needs.
Gartner predicts that by 2020 there will be 20.4 billion connected “things” around the world. According to SAM research, there is an average of 5 attacks per home user every day. With an increase in the number of home devices, network operators and internet service providers (ISPs) cannot rely on end users alone to protect themselves.
Intel, which is enabling the integrating of SAM technology into products in Europe and North America, is leveraging SAM to further enrich its security offerings, while ADT continues to explore the possibilities of utilizing SAM’s seamless security to enhance its Digital Security offerings for residential users across North America.
In addition, Dave DeWalt – a leading cybersecurity executive and the former CEO of McAfee and FireEye – has joined SAM as a board chairman.