Phones get patched weeks after exploits ship. iVerify just raised $17M on the argument that detection has to fill the gap.
The Belfast and New York company closed new funding led by Sands Capital and Entropy Ventures, with NAventures, National Bank of Canada’s venture arm, Morgan Stanley and United Airlines Ventures also investing. Chris Eng of Sands joins the board and Morgan Stanley’s global CISO Alonzo Ellis becomes a board observer.
Why financial firms wrote the cheques
Its product is mobile endpoint detection and response, which watches a device for malicious activity rather than only reporting what the device is, the limit of traditional mobile device management. That distinction matters when exploit kits compromise handsets through a single website visit.
Chief executive Danny Rogers points to a brutal six months: Fomopeek, an App Store-approved app carrying iOS kernel exploits; WeWorm, described as the first zero-click wormable mobile malware, moving between iOS and Android through WeChat; and two iOS exploit kits, DarkSword and Coruna, delivered via compromised websites.
Sands’ security chief Ryan Bateman said smishing, vishing and SIM swapping are the entry point into corporate networks, with spyware harvesting passwords and session tokens. Entropy made the investment its first ever.
Frontier models have shortened the distance between finding a flaw and exploiting it, and mobile remains the endpoint with the least telemetry.
