Phosphorus Cybersecurity, a US-based leader in security and device management for the extended Internet of Things (xIoT), has received an investment from Neva Sgr, the venture capital arm of Italy’s Intesa Sanpaolo Group.
The funding was made through Neva Sgr’s Neva II Fund, although the value of the deal was not disclosed.
Phosphorus Cybersecurity helps organisations manage millions of connected devices, automating tasks such as password updates, configuration fixes, and firmware patches to reduce the risk of cyberattacks. The company is building towards a future where xIoT devices are managed autonomously without human intervention.
The new investment will accelerate Phosphorus’s intelligent automation capabilities and support its market expansion into Italy, using the Intesa Sanpaolo Group’s network.
Last year, the company doubled the number of devices under management and enhanced its patented Genus-Species technology, enabling secure interaction with over 1 million device models.
Neva Sgr CEO and general manager Mario Costantini said, “Phosphorus Cybersecurity CEO Chris Rouland said, “Investing in xIoT cybersecurity is increasingly critical given the rapid growth of connected devices across key sectors such as healthcare, manufacturing, and hospitality.
“We chose Phosphorus because of its distinctive technology and innovative approach. Leveraging Neva SGR’s extensive European network and strategic resources, we look forward to actively supporting Phosphorus’s international growth and market success”.
For more details on the deal, visit RegTech Analyst
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