Dell Technologies Capital, the corporate venturing arm of computer manufacturer Dell, has co-led a $22m series B round for ZingBox, a US-based developer of security technology for the internet of things (IoT).
Venture capital fund Tri Ventures co-led the round. ZingBox has not released details of past funding but its website lists GSR Ventures, Envision Ventures, Oriza Ventures and Stanford StartX as investors.
ZingBox develops technology that ensures IoT systems can be deployed securely by companies, hospitals and manufacturing facilities. The funding will support an expansion of the compamy’s team as it looks to grow its market presence and further develop its product.
Raman Khanna, Dell Technologies Capital’s managing director, said: “Dell Technologies Capital invests in innovative founders and companies that can utilise our technical resources and unique go-to-market channels to bring their breakthrough technology to customers around the globe.
“As more and more hospitals, retailers and businesses deploy IoT solutions, security is top of mind and ZingBox’s machine-learning approach to IoT security helps them address this fundamental challenge.”