Binarly, a Los Angeles, CA-based provider of an AI-powered firmware and software supply chain security platform, has closed a $10.5 million seed funding round.
Investors
The oversubscribed round was led by Two Bear Capital, with participation from Blu Ventures, Canaan Partners, Cisco Investments, and Liquid 2 Ventures. Pre-seed investors Westwave Capital and Acrobator Ventures also expanded their equity positions.
Founded in 2019, Two Bear Capital is a venture capital firm investing in founders with breakthrough ideas to solve urgent, complex problems by harnessing life sciences and technology. The firm is based in Whitefish, Montana, with offices in Menlo Park, New York, San Diego, and Boston.
Binarly Use of Funds
The company will use the investment to further expand its world-class engineering team and scale enterprise and device manufacturer adoption of its technologies.
About Binarly
Binarly is a global firmware and software supply chain security company founded in 2021. The company’s flagship Binarly Transparency Platform is an enterprise-class, AI-powered solution used by device manufacturers, OEMs, IBVs, and product security teams to identify known and unknown vulnerabilities, misconfigurations, and signs of malicious code implantation. Binarly’s validated remediation playbooks have significantly reduced the cost and time to respond to security exposures.
Funding Details
Company: Binarly, Inc.
Raised: $10.5M
Round: Seed Round
Funding Month: March 2024
Lead Investors: Two Bear Capital
Additional Investors: Blu Ventures, Canaan Partners, Cisco Investments, Liquid 2 Ventures, Westwave Capital, Acrobator Ventures
Company Website: https://www.binarly.io/
Software Category: Supply Chain Security
Source: https://www.businesswire.com/news/home/20240326398745/en/