Ockam To Further Democratize Secure IoT Development With New Funding Round

By Annie Baker ● Updated June 30, 2019
  • Ockam, a company that has built a suite of products that democratizes secure IoT development, announced recently that it closed $3.2 million

Ockam recently announced that it closed $3.2 million in funding. The funding round was actually closed last month and it included investors like Core Ventures, Future Ventures, Okta Ventures, and SGH Capital.

With these additional resources, it will accelerate the company’s mission to enable the builders who are ushering in a shared vision of a seamlessly connected world.

Ever since Ockam launched in January, the company has been forging its vision of a seamless connected world into a suite of products that democratizes secure IoT development.

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Ockam co-founder and CTO Mrinal Wadhwa pointed out that “it’s been exceptionally difficult and expensive to build secure connected device systems” for far too long. With the funding, it will enable the company to increase the pace at which they are able to roll out new functionality to the Ockam system and extend the depth to which they can help builders of IoT systems tackle their complex challenges.

“Since the very earliest days of Ockam, we’ve consistently and continuously coalesced a community that shares our vision of a seamless 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 ‘The Team’ to the next level,” added Ockam CEO Matthew Gregory.

Gregory has experience building Heroku add-ons. And he acknowledges that every application is different and has its own challenges. So the company believes the best way to empower developers to build applications is to enable them with tools that will allow them to assemble the “very best stack for their application.”

Core Ventures Group general partner Shinya Akamine said that the venture firm is excited to invest in Ockam’s vision as their “approach to addressing a real-world problem is a testament to the strength and diversity of the founding team. We are thrilled to be backing such a passionate group of builders.”

Future Ventures is a newly launched venture firm founded by Maryanna Saenko and Steve Jurvetson. “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 puts them miles ahead in the field,” noted Saenko.

Ockam’s investment from Okta Ventures was strategic. Okta is known for providing cloud software for helping companies manage and secure user authentication.

“Ockam shares our fundamental belief that trust begins with identity, and that integration and partnerships are essential to building trust across the ecosystem. Both Okta and Ockam have a partner-driven ethos, which is apparent in how we build our products, collaborate with partners, and empower the developer ecosystem,” commented Okta’s SVP of Corporate Development Monty Gray. “We look forward to partnering with the Ockam team as they extend identity to IoT and work to secure the devices of the future.”

What’s next for the company? Ockam co-founder and COO Logan Jager explained that the focus will be extending the Team capabilities with the “most passionate builders” who want to join their mission for tackling big problems in IoT.