Binarly, a Los Angeles-based startup, has made significant strides in the realm of firmware and software supply chain security by securing $10.5 million in seed-stage funding, led by Two Bear Capital, signifying a major milestone in their growth trajectory. This oversubscribed funding round includes equity positions for notable entities such as Cisco Investments, Blu Ventures, Canaan Partners, and Liquid 2 Ventures, as well as participation from pre-seed investors Westwave Capital and Acrobator Ventures. The capital injection comes at a pivotal time as Binarly continues to develop its enterprise-class, AI-powered solution, the Binarly Transparency Platform, designed to empower security teams to identify and mitigate security vulnerabilities haunting the firmware and software supply chain.
This innovative platform leverages advanced artificial intelligence to automate the discovery of both known and unknown vulnerabilities in software, as well as detect signs of malicious code implantation, bolstering the industry’s efforts to secure software supply chains and mitigate exposure to vulnerabilities within the open source code ecosystem. Founded by esteemed researcher Alex Matrosov, a notable former NVIDIA alum with a wealth of experience in vulnerability research, Binarly has solidified its position in addressing software defects, including the critical LogoFAIL issue that impacted billions of devices globally.
Binarly’s solution has already been adopted by enterprise customers to proactively detect and manage software vulnerabilities, uncover transitive dependencies, and identify firmware implants and other types of malicious code, ultimately enhancing the security posture of the software supply chain. Furthermore, the platform is actively utilized by device manufacturers, original equipment manufacturers (OEMs), and independent software vendors (IBVs) to identify bugs and misconfigurations early in the code generation cycle, enabling proactive risk mitigation strategies. Additionally, Binarly is committed to providing validated remediation playbooks that streamline the response to security issues, reflecting their dedication to minimizing the impact of software vulnerabilities in the broader technology landscape.
