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Finite State raises $27m to secure firmware before attackers do

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Finite State raises $27m to secure firmware before attackers do

Finite State, a specialist in product security and software supply chain risk management, has secured $27m in a Series C round to help manufacturers locate vulnerable code inside connected products before attackers can exploit it.

Private funds managed by The O.H.I.O. Fund led the investment. CIBC Innovation Banking, Energy Impact Partners, Energize Capital and National Grid Partners also took part.

The company plans to use the capital to grow its international footprint, strengthen its position in priority overseas markets and speed up work on the autonomous features of its platform.

Finite State aims to let more manufacturers worldwide spot the mismatch between the software they intend to ship and the code that actually ends up running on a finished device, while continually detecting and reducing risk across supply chains that keep growing more complex.

The raise lands at a critical moment for product security. In October, AI-driven research exposed serious weaknesses in heavily used software, among them a flaw in the PHP programming language, which supports a large share of the web. Security leaders have labelled this wave of discoveries the “Vulnpocalypse.”

Artificial intelligence has cut the window between discovering a weakness and weaponising it from weeks down to days, and occasionally hours. Connected hardware faces particular danger, as one defect in a widely shared open source component can be embedded across millions of products that are difficult to catalogue and slow to update. Manufacturers now face a different challenge: identifying which of their products carry a given flaw.



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