# Karamba Security

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/karamba-security

- Industry: Software
- Headquarters: Bloomfield Hills, US
- Website: www.karambasecurity.com
- Total disclosed funding: $27M
- Latest round: Series B (Dec 2, 2021)
- Investors on record: 9

## About

Karamba Security Ltd. specializes in providing end-to-end security solutions for embedded devices, focusing on safeguarding automotive and medical technology applications from vulnerabilities.Founded in 2016 in Bloomfield Hills, US, Karamba Security Ltd. develops cybersecurity measures tailored for OEMs and embedded device manufacturers. The company was co-founded by Assaf Harel, David Barzilai, and Tal David, with Ami Dotan as the CEO. Karamba has successfully raised USD 10.00 mn in a Series B funding round on December 2, 2021, led by Vingroup Company, with participation from various other investors. The total amount raised by the company stands at USD 10.00 mn across its funding rounds.Karamba offers a comprehensive suite of end-to-end product security solutions designed for OEMs, suppliers, and embedded device manufacturers across various industries, including automotive and medical devices. The company's flagship products, XGuard and VCode, facilitate the hardening of device firmware to identify and mitigate vulnerabilities before production, enhancing the security posture of IoT products. XGuard focuses on device security, while VCode encompasses binary analysis and vulnerability management, ensuring compliance with stringent industry regulations such as ISO/SAE 21434 and FDA standards. These solutions are particularly valuable to clients operating in over 128 countries, addressing the needs of sectors such as automotive with retrofitting capabilities for large fleets, and medical technology for meeting regulatory premarket requirements. The geographical markets served by Karamba include North America, Europe, and Asia, where the demand for robust cybersecurity measures continues to grow.Karamba generates revenue through a combination of direct sales and partnerships with clients in the OEM and embedded device manufacturing sectors. The company’s business model includes offering subscriptions for its software products, such as XGuard and VCode, which continuously monitor and enhance the security of device firmware. Revenue is primarily derived from B2B transactions where clients engage Karamba for vulnerability assessments, penetration testing services, and integration of security solutions into their CI/CD pipelines. These services are structured to align with client development cycles, ensuring timely implementation without disrupting product release schedules. By maintaining ongoing relationships with clients, Karamba is positioned to capture recurring revenue from software updates and support services, thereby reinforcing its commitment to maintaining high security standards in an evolving threat landscape.In December 2021, Karamba Security Ltd. raised USD 10.00 mn in Series B funding, led by Vingroup Company, to accelerate the development of its product roadmap. The funding will help the company meet growing customer demands and compliance with newly created regulations, such as UN R155 and ISO 21434 for automotive cybersecurity, and the U.S. Executive Order on Improving the Nation’s Cybersecurity. Karamba plans to enhance its offerings and expand into additional markets, specifically targeting growth in regions with increasing cybersecurity needs, including broader outreach in Europe and Asia by 2023.

## Funding rounds

- Series B, Dec 2, 2021, $10M — Paladin Capital Group, GlenRock Israel, YL Ventures, Samsung Venture Investment, Fontinalis Partners, Presidio Ventures, Vingroup Company, Liberty Mutual Strategic Ventures, Asgent, Inc.
- Series B, May 16, 2017, $12M — Paladin Capital Group, YL Ventures, Fontinalis Partners, Presidio Ventures, Liberty Mutual Strategic Ventures, Asgent, Inc.
- Series A, Sep 29, 2016, $2.5M — GlenRock Israel, YL Ventures, Fontinalis Partners
- Seed, Apr 6, 2016, $2.5M — GlenRock Israel, YL Ventures

## Investors

- GlenRock Israel (https://capitalatlas.ai/funds/glenrock-israel) — Seed, Series A, Series B
- YL Ventures (https://capitalatlas.ai/funds/yl-ventures) — Seed, Series A, Series B
- Fontinalis Partners (https://capitalatlas.ai/funds/fontinalis-partners) — Series A, Series B
- Paladin Capital Group (https://capitalatlas.ai/funds/paladin-capital-group) — Series B
- Presidio Ventures (https://capitalatlas.ai/funds/presidio-ventures) — Series B
- Liberty Mutual Strategic Ventures (https://capitalatlas.ai/funds/liberty-mutual-strategic-ventures) — Series B
- Asgent, Inc. — Series B
- Samsung Venture Investment (https://capitalatlas.ai/funds/samsung-venture-investment) — Series B
- Vingroup Company — Series B