Israeli-based startup SecuriThings, fresh off a $14 million funding round in February, is using some of that money to build out its channel ecosystem, which will include a partner program.
SecuriThings, a Tel Aviv- based startup founded in 2016, has developed a platform that it terms as the first true IoTOps solution, and which it believes is unique in the way that it brings unified risk detection, predictive maintenance and automated operations for managed IoT devices. It also believes that they are relatively unique in that even in their early days, they are already working with channel partners, and have plans underway to make the channel the focus of their Go-to-Market activities.
“Organizations like airports and financial institutions all have a large number of connected devices running on different networks, like cameras, access control systems, and building management systems,” said Roy Dagan, SecuriThings’ CEO. “They are from different vendors, different models and for different systems, so managing them all is extremely challenging, particularly since compared to IT teams, the operations teams are underserved and under immense pressure.”
SecuriThings’ original intent was to provide a cybersecurity solution for this market, before they realized that the problem was broader than this.
“We were speaking with end customers and partners and found that the pain is bigger than cybersecurity, so we pulled cybersecurity into part of a broader solution tailored for IoT devices that also provides monitoring, predictive maintenance, and automation,” Dagan stated.
After bringing their SecuriThings Horizon platform to market, the company announced the closing of their $14 million Series A funding round in February. Aleph led the round, with participation from existing investors Firstime VC and angel investors.
“While our platform is well built-out, and can help all kinds of companies, including health care and non-profits, the funding will continue to add more capabilities,” Dagan said. “We will invest more in R&D and also build out sales and marketing and channel programs.”
Dagan stressed that SecuriThings was fairly distinct in its commitment to the channel at this stage of their growth.
“We are pretty unique in our approach to the channel,” he said. “The investor who joined this round liked the channel play. We always believe that the channel would be the right strategy to sell this, and most of our business today comes through the channel. That’s why we started having conversations with potential partners early on, and why we determined to create a channel-first culture. For us, the channel is a force multiplier. We are both partners in the trenches.”
Building a channel program, even at this early stage, is the next step.
“That was the purpose of the A funding round, to create a real channel program,” Dagan indicated. “We are working with a select few partners today, but the goal is to build up a real program to add more partners and to provide training and support.”
Today, that partner base is primarily OT players, but the intent is to go beyond that.
“Some of our partners are focused on physical security and building management, and some are OT systems integrators, but we are also in conversations with IT teams,” Dagan said. “We are trying to create a win-win for both. In the short term, this is mainly an OT play, but as we grow the channel program, we will be looking to grow the IT channel and technology.”
Dagan also said that their Horizon platform will be a strong MSP play.
“We see this as well-suited for MSPs, in the short term as well as the long term,” he noted. “Many companies in this space want to be managed service providers, and they know that this will allow hem to provide better integration services as well.”