BOSTON, Nov. 29, 2017 /PRNewswire/ -- New investment
coupled with a new CEO has put Pwnie Express in position to
accelerate on its IoT security vision. Support from Pwnie's
existing bench of investors comes in the form of $8 million in funding earmarked for continued
customer growth. In addition, the company has appointed
Todd DeSisto as the company's new
CEO.
DeSisto joined Pwnie's Board of Directors in 2016. He has
previous experience leading IoT-related companies as the former CEO
at Axeda Corporation. During his tenure there, Axeda won several
"best of" awards, including being named one of the 10 Most Powerful
IoT Companies with the likes of Amazon, Cisco, and Google. Axeda
was sold to PTC (Nasdaq: PTC) for $170
million. Todd started his career in the wireless industry
and was a member of Aloha Partners, one of the largest holders of
wireless spectrum in the US, before its sale to AT&T. As a
senior executive with several emerging companies, including Network
Intelligence, Inc., New River Inc., and Atlantic Cellular Company,
DeSisto has a track record of building value and growing
companies.
"The opportunity to work with a terrific team at an IoT security
company like Pwnie was too good to pass up," DeSisto said. " At
Axeda we saw that as things become connected to the Internet, they
also become vulnerable to cyber threats. IoT environments cannot
depend on the constant integrity of every connected device to
ensure their ongoing security. A system specifically designed to
monitor and protect the environment is required. Pwnie is well
positioned to meet this challenge"
DeSisto will help Pwnie build on the successes of 2017,
including the rollout of new versions of its IoT security products
and the launch of its Stampede and channel programs for managed
security service providers (MSSPs), value-added resellers (VARs),
and original equipment manufacturers (OEMs). Former CEO
Paul Paget is staying with the
company as executive vice president focused on strategy.
The funding is led by existing investors .406 Ventures, Ascent
Venture Partners and Fairhaven Capital with participation from the
Vermont Center for Emerging Technologies (VCET), and brings the
total invested to date to $28
million. "Our Investors are making a big statement about
Pwnie with this new funding," DeSisto said. "We'll head into 2018
with great products and additional resources. We're in a great
position to continue to grow by providing new and existing
customers with the best IoT security product in the
marketplace."
About Pwnie Express
Pwnie Express closes the IoT
security gap exposed by the deployment of IoT in the enterprise. By
continuously identifying and assessing all devices and IoT systems,
our security platform prevents IoT based threats from disrupting
business operations. All without the need for agents, or changes to
network infrastructure. To learn more about Pwnie Express
visit www.pwnieexpress.com.
Contacts: Adam Benson, 202.999.9104, adam@vrge.us
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SOURCE Pwnie Express