NetRise Secures $10M Series A Funding to Strengthen Software Supply Chain Security

NetRise, a leading cybersecurity firm focusing on software supply chain risk management, has successfully raised $10 million in Series A funding to bolster its threat detection and visibility capabilities across various software ecosystems. This significant investment aims to enhance the company’s ability to provide comprehensive solutions for software risk management.

Funding Details and Backers

The recent funding round was spearheaded by DNX Ventures, with continued support from existing investors including Miramar Digital Ventures, Sorenson Capital, Squadra Ventures, and Talons Ventures. This new capital injection brings NetRise’s total funding to $24.8 million.

NetRise’s Core Offerings

NetRise is dedicated to providing organizations with a robust platform that enables them to manage their software assets effectively. Its primary product offers:

• Detailed Software Bill of Materials (SBOM): This essential tool provides insights into vulnerabilities within compiled code and firmware.
• Risk Identification: The platform helps organizations pinpoint risks within their supply chains.
• Lifecycle Support: It caters to various stakeholders, including developers, device manufacturers, and enterprise security teams.

Addressing Software Supply Chain Vulnerabilities

The new funding will assist NetRise in its mission to bridge the increasing security gaps in software risk detection and response. The company intends to scale its platform, focusing on:

• Proactive monitoring of embedded software components
• Enhanced capabilities in firmware security

The Growing Importance of Cybersecurity

As the reliance on software increases across devices such as cars and network routers, cybersecurity threats are on the rise. According to Verizon’s 2024 Data Breach Investigation Report, 15% of breaches were linked to supply chain vulnerabilities, a significant increase from 9% the previous year. In this evolving threat landscape, NetRise is positioning itself as a vital solution provider.

Expert Insights

John Stewart, president of Talons Ventures, emphasized the importance of NetRise’s mission, stating, “Clarity of purpose, top caliber team, and relentless focused execution carry the day. With more reliance on vendors, software libraries, and compiled code, hackers are increasingly targeting these areas.”

NetRise co-founder and CEO, Thomas Pace, noted, “Every organization understands the value of an asset inventory, yet no one has a software asset inventory. Until now, there has been no effective way to build this inventory from the ground up.”

Industry Leadership

According to Rio Maeda, managing partner at DNX Ventures, “NetRise has quickly established itself as a leader in managing software supply chain risk for device manufacturers and enterprise organizations. The challenges of software supply chain security are unique, and the industry has long lacked an effective solution.”

For more information about NetRise and its cybersecurity solutions, visit their official website at NetRise.