San Franciso based Ockam, the software firm which is selling tools to developers in order to build trust within their connected device applications has bagged $4.9 million in seed financing. The funding has come from Core Ventures, Okta Ventures, SGH Capital, and Future Ventures. Before this round, the firm had picked up $300K in pre-Seed funding in 2018 from an unknown source.
The company was founded by Logan Jager, Matthew Gregory, and Mrinal Wadhwa in 2017 as a platform that makes tools to help builders create IoT systems they can trust. The firm's open-source developer tools allow developers to send trustful end-to-end encrypted messages between connected devices and/or cloud services.The firm plans to use the freshly raised amount to speed up the development of its products as a part of the Ockam system and expand assistance to IoT system builders in tackling complex challenges.
Matthew Gregory, the CEO of the firm talking about the investment said, “Since the very earliest days of Ockam, we’ve consistently and continuously coalesced a community that shares our vision of a seamlessly connected world. We’re grateful for all the support we’ve received from mentors, advisors, customers, partners, analysts, and press. The group of investors participating in this round takes the team to the next level.”
Future Ventures' Maryanna Saenko speaking on the financing in the firm said, “The security challenges associated with IoT are staggering. In Ockam, we recognized a team capable of building a world of connected systems we can actually trust. Their collective knowledge and experience put them miles ahead in this field.”
Image Courtesy : Ockam