Viakoo revealed substantial company expansion, characterized by a revenue increase of over 100% year-over-year, expanded bi-directional partnerships, and continued strides toward innovative developments in the IoT security sector.
Viakoo experienced remarkable growth and recognition in 2023, marked by over 2x revenue growth and by adding new large federal agencies and Fortune 500 companies to its customer base, including Cybersecurity and Infrastructure Security Agency (CISA), and the Department of Homeland Security, PricewaterhouseCoopers (PwC), FedEx Services, California Department of Corrections, and Estes Logistics. Additionally, the company consummated a significant multi-faceted technology licensing deal with a major security OEM.
In response to customer needs, Viakoo identified a critical missing piece to the technology stack necessary for IoT security. To meet this need, Viakoo spearheaded the development of IoT Applications-based Discovery to compliment network-based IoT discovery that infers the existence of devices from network traffic. Application-based IoT uses the application to discover the devices and port relationships, and extracts attribute data directly. The new solution greatly accelerates the time to discovery and remediation, and helps shrink the attack surface. The customer benefits from improved data enrichment and data truth. Together with the overall Viakoo Action Platform, this represents a significant advancement in IoT security that promises to redefine cybersecurity speed and automation, ushering in a new era of advanced digital protection.
Viakoo has surpassed an impressive technology milestone of 2 billion hours of product usage on its IoT Security platform, validating its standing as a widely adopted and trusted IoT security solution. Additionally, the company was honored as Next Gen IoT Security Winner in Cyber Defense Magazine’s 2023 Global InfoSec Awards, a program that recognizes information security innovators who provide industry-leading products and services.
“IoT security continues to be one of the fastest growing attack vectors for malicious hackers,” said Jens Horstmann, Managing Director at Crestlight. “Viakoo is a clear ‘Minicorn’ in the IoT security space, leading the charge to help companies elegantly automate and manage their IoT applications and devices.”
Strengthening Alliances Through Technology Wins
Viakoo is technology-partner focused, and its commitment to powerful strategic alliances is underscored by major design and technology wins, delivering IoT solutions with “Viakoo Inside.” Viakoo continues to establish high-impact managed service partners that effortlessly adopt the Action Platform, delivering high-value solutions that drive widespread sustainable revenue streams. Most notably, the company established fortuitous partnerships with over 10 trusted technology alliance partners, including Securitas Technology, Presidio Solutions, and Optiv Security through its Viakoo Marketplace. These collaborations have ushered in a new era of innovation and efficiency, where Viakoo’s IoT Security Platform seamlessly integrates with cutting-edge solutions provided by strategic partners. This not only reinforces Viakoo’s leadership position but also fosters a collaborative ecosystem that addresses the diverse needs of organizations navigating the complexities of IoT security.
Viakoo recently joined a CISA working group that specifically concentrates on Software Bill of Materials (SBOMs) and Vulnerability Exchange (VEX). This collaboration marks a pivotal step forward in the company’s commitment to advancing cybersecurity practices and contributing to the ongoing efforts in enhancing digital resilience.
“Viakoo has achieved noteworthy success within the federal government, financial services, and Fortune 500 sectors. Our strategic emphasis on fostering robust partner relationships has also propelled us forward, resulting in tangible revenue gains,” said Bud Broomhead, CEO at Viakoo. “Viakoo remains committed to delivering cutting-edge solutions and forging alliances that drive both innovation and revenue growth.”
Key Additions to Board
Viakoo recently expanded its Board of Directors, welcoming Joe Lea. With 25 years of operating experience, former Armis executive Joe Lea contributes strategic direction for Viakoo while continuing to provide leading IoT/OT security innovation.
The company made a key addition to its Customer Advisory Board adding Maria Sumnicht, formerly IoT Architect for the New York City Cyber Command.
Learn more at the Viakoo website here.