TLDR:
- Binarly, a provider of an AI-powered firmware and software supply chain security platform, raised $10.5M in Seed funding.
- The round was led by Two Bear Capital, with participation from Blu Ventures, Canaan Partners, Cisco Investments, and Liquid 2 Ventures.
Binarly, a Los Angeles-based company, secured $10.5M in Seed financing to support its AI-powered platform for firmware and software supply chain security. Led by Two Bear Capital, the funding round also saw participation from Blu Ventures, Canaan Partners, Cisco Investments, and Liquid 2 Ventures, with pre-seed investors Westwave Capital and Acrobator Ventures increasing their equity positions. The company, founded in 2021 and headed by CEO Alex Matrosov, plans to use the funds to grow its engineering team and expand enterprise and device manufacturer adoption of its technologies. Binarly’s flagship transparency platform utilizes AI to identify vulnerabilities and signs of malicious code, ultimately reducing the cost and time to respond to security risks. Matrosov expressed confidence in the company’s progress towards enhancing software and firmware supply chain security with the support of prominent investors.
