Phosphorus Cybersecurity, a US-based leader in security and device management for the extended Internet of Things (xIoT), has secured a strategic investment from Neva Sgr, the venture capital arm of Italy’s Intesa Sanpaolo Group.
The investment was made through Neva Sgr’s Neva II Fund, although the specific amount has not been disclosed.
Phosphorus Cybersecurity offers a platform that enables the secure remote management of millions of connected devices. It helps customers automate essential security tasks such as password rotations, configuration updates, and firmware upgrades, significantly reducing the risk of device compromise at scale. The company is working towards a vision of autonomous xIoT operations, where devices are self-managed and self-secured.
The funding will be used to accelerate the company’s growth, particularly in the development of intelligent automation within xIoT security. It will also support Phosphorus’s expansion into new markets, including Italy, where it plans to leverage the Intesa Sanpaolo Group’s extensive network.
In 2024, Phosphorus recorded substantial growth, doubling the number of devices under its management and advancing its patented Genus-Species approach, which allows direct and secure interaction with over 1 million device models. With over 60 billion xIoT devices globally — a figure growing at around 20% per year — the need for automated security solutions is becoming increasingly critical.
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”.
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