Krimmeni Technologies Secures $11.7M for Cloud-based Data Centers, IoT

Austin, Texas-based cybersecurity startup Krimmeni Technologies on Wednesday said it has raised $11.7 million to assist with developing additional security solutions for cloud-based data centers and the Internet of things (IoT) market.

The company said it will also leverage the new funding to add engineering resources, expand marketing and sales operations, and grow its research development group.

Third Point Ventures and Pelion Venture Partners led the Series A financing round. These additional funds bring the company’s total financing to date to $12.9 million. David Lundgren, CEO of Krimmeni, told Talkin’ Cloud that the company has no current plans to acquire additional financing.

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As part of the deal, Third Point Ventures Managing Partner Robert Schwartz and Pelion’s Managing Director Carl Ledbetter will join Krimmeni’s board of directors.

Lundgren said Krimmeni is already in discussion with global channel firms that serve the cloud, device and semiconductor markets. “Look for announcements in the future as we add these valued partners,” he said.

“Krimmeni will apply its technology to a suite of cybersecurity products that leverage our proven capability to protect encryption keys in applications from the data center to the IoT,” Lundgren said.

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