# Asimily

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/asimily

- Industry: Software
- Headquarters: Sunnyvale, US
- Website: www.asimily.com
- Total disclosed funding: $10M
- Latest round: Series A (Jul 30, 2021)
- Investors on record: 6

## About

Asimily provides a risk mitigation platform tailored for the Internet of Things (IoT) and the Internet of Medical Things (IoMT), focusing on enhancing cybersecurity for connected devices across various industries.Asimily, Inc. was founded in 2017 in Sunnyvale, US, to address cybersecurity challenges in IoT and IoMT. The company's founders include Hithesh Nama and Shankar Somasundaram, with the latter also serving as CEO. Asimily raised USD 8.70 mn in its most recent funding round, Series A, led by Ridge Ventures on June 23, 2022. The total amount raised by the company is USD 8.70 mn, with a current valuation of USD 57.606 mn.Asimily offers a comprehensive risk mitigation platform designed specifically for the Internet of Things (IoT), Operational Technology (OT), and the Internet of Medical Things (IoMT). Their primary product suite includes features for device visibility, vulnerability detection, targeted attack prevention, and device patching, all integrated into a single platform. This platform provides organizations with real-time insights into connected devices, assesses vulnerabilities based on Common Vulnerabilities and Exposures (CVEs), and applies mitigation strategies like microsegmentation and device hardening. Asimily's clientele spans industries such as healthcare, manufacturing, financial services, and government, including notable customers like MemorialCare and Methodist Le Bonheur Healthcare.Asimily generates revenue primarily through a subscription-based model, providing clients with ongoing access to its risk management platform. Clients enter into annual or multi-year contracts that offer varying levels of service tailored to their needs. Revenue is further supported by partnerships that grant clients access to premium features like the IoT Risk Simulator and continuous vulnerability detection services. While specific pricing details for their services are not public, the company emphasizes the value of its offerings in enhancing compliance and operational efficiency, demonstrated by case studies with clients improving their cybersecurity compliance metrics.Asimily's recent funding will be directed towards expanding its product offerings and entering new markets. The company is focused on developing new features for its platform, enhancing its risk management capabilities. They aim to strengthen their presence in North America and Europe while exploring opportunities in the Asia-Pacific region over the next two years. The funding raised in June 2022 will support these strategic initiatives, positioning Asimily for further growth in the cybersecurity sector.

## Funding rounds

- Series A, Jul 30, 2021, $8.7M — New Leaf Venture Partners, Inventus Capital Partners, Ridge Ventures, Engineering Capital, Eileses Capital
- Seed, Jul 13, 2017, $1.7M — Plug and Play, Engineering Capital

## Investors

- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed
- Engineering Capital (https://capitalatlas.ai/funds/engineering-capital) — Seed, Series A
- New Leaf Venture Partners (https://capitalatlas.ai/funds/new-leaf-venture-partners) — Series A
- Inventus Capital Partners (https://capitalatlas.ai/funds/inventus-capital-partners) — Series A
- Ridge Ventures (https://capitalatlas.ai/funds/ridge-ventures) — Series A
- Eileses Capital (https://capitalatlas.ai/funds/eileses-capital) — Series A