Aleph is excited to announce its investment in SecuriThings, the pioneer of IoTOps. With SecuriThings’ Horizon product, customers can monitor, maintain and orchestrate their complete fleets of IoT devices, such as cameras, access points, building management systems and more.
SecuriThings is targeting a meaningful but underserved segment of the IoT software ecosystem: operations. It’s a large enough problem that dedicated IoTOps teams exist across many organizations, yet even these teams are often forced to manage and secure their devices manually.
Despite the acute need, the IoTOps world lacks the robust, mature software ecosystem that has emerged in traditional IT management. For example, until SecuriThings, there were no enterprise-grade platforms for unified, remote IoT operations (where in the classical world, Solarwinds earns $500M in adjusted earnings a year, driven by this sort of product). Nor was there a dedicated IoT solution for process automation (“RPA”, where UiPath was just valued at a $35B valuation for a product focused on traditional IT) or observability (a massive sector in “classical” IT, with nearly $100B of public market cap in the likes of Datadog, Elastic and Splunk).
Any of these tried-and-true software categories, applied effectively to enterprise IoT, could be a successful, independent business. But for a number of structural reasons, these businesses hadn’t emerged. Now, SecuriThings is weaving these disparate products together into the unified product category of IoTOps (along with predictive maintenance, risk detection, orchestration and more), and closing large deals with some of the largest technology companies in the world.
Co-founders Roy Dagan and Raanan Lidji are gifted technologists and operators, but that’s only part of what makes them uniquely suited to build a meaningful company. The other half is that they are particularly tenacious, with high standards of personal integrity.
Roy and Raanan spent many years building out the initial focus of SecuriThings, which was an IoT security product. As they continued on what was at times a gritty and challenging journey to finding product-market fit, they gradually learned more and more about their customers, while simultaneously building important networks and connections.
Roy and Raanan used these years of experience to expand the security offering into IoTOps, and begin executing on a unique and hard-to-replicate sales strategy. As large enterprise deals began to roll in, they were able to decline funding and iterate on a platform that could be broadly replicable (vs. project-based), until they were ready to scale.
At Aleph, the journey that the founders had in building SecuriThings spoke to us. We treat our investments as decade-long relationships and we found the grit and strength of character that Roy and Raanan showed to be impressive and meaningful. We are thrilled to be working and building with them, and we look forward to exciting years ahead.