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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchBinarly announced a $10.5 million seed round on March 26, 2024, led by Two Bear Capital. The Los Angeles cybersecurity company says it will use the funding to expand engineering and increase adoption of its enterprise platform, which is designed to identify risks in firmware and software supply chains.
What the $10.5 million round includes
Two Bear Capital led the seed financing. Blu Ventures, Canaan Partners, Cisco Investments and Liquid 2 Ventures also participated. Westwave Capital and Acrobator Ventures, both pre-seed investors, expanded their equity positions, according to Binarly’s March 26, 2024 announcement distributed by Business Wire.
Binarly said it planned to put the proceeds toward expanding its engineering team and scaling adoption among enterprise customers and device manufacturers. The announcement did not specify a spending breakdown, hiring target or timeline, so the round does not establish how much will go to any one activity or what results the investment will produce.
What Binarly’s platform does
Binarly describes its flagship Binarly Transparency Platform as an enterprise-class, AI-powered product for firmware and software supply-chain security. The company says it can help find known and unknown vulnerabilities and provide evidence of malicious code implants. Its intended users include device manufacturers, original equipment manufacturers (OEMs), independent BIOS vendors (IBVs) and product security teams.
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The announcement also describes the platform as cloud-agnostic and says it offers remediation playbooks intended to reduce incident response time and cost. Those are company-described capabilities and intended benefits, not independently measured outcomes in the cited coverage.
How organizations use the technology
SecurityWeek’s March 26, 2024 report says enterprise customers use Binarly’s technology to manage vulnerabilities, identify transitive dependencies, detect firmware implants and other malicious code, and flag bugs or misconfigurations earlier in code generation.
Rank #2
- POWERFUL SECURITY KEY: The YubiKey 5 NFC is the most versatile physical passkey, protecting your digital life from phishing attacks. It ensures only you can access your accounts
- WORKS WITH 1000+ ACCOUNTS: Compatible with popular accounts like Google, Microsoft, and Apple. A single YubiKey 5 NFC secures 100+ of your favorite accounts, including email, password managers, and more
- FAST & CONVENIENT LOGIN: Plug in your YubiKey 5 NFC via USB and tap it, or tap it against your phone (NFC), to authenticate. No batteries, no internet connection, and no extra fees required
- MOST SECURE PASSKEY: Supports FIDO2/WebAuthn, FIDO U2F, Yubico OTP, OATH-TOTP/HOTP, Smart card (PIV), and OpenPGP. That means it’s versatile, working almost anywhere you need it
- PRIMARY & SPARE KEYS: Just like having a spare house key, we recommend buying two YubiKeys - one for daily use and one as a spare. That way you’ll never get locked out of your accounts
- Firmware risks: Look for vulnerabilities or malicious code in device firmware, the low-level software that helps hardware start and operate.
- Software supply-chain visibility: Identify dependencies—components that software relies on, including dependencies brought in indirectly through other components.
- Response workflows: Use playbooks to guide remediation after a security issue is identified. Binarly says these are intended to make response more efficient; the cited sources do not quantify the effect.
- Earlier development checks: Surface bugs or misconfigurations during code generation, according to SecurityWeek’s account of customer use.
These functions target organizational security work rather than consumer device protection. The cited reporting describes use cases, but does not provide comparative performance data against competing platforms.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the announcement does—and does not—establish
The financing announcement is evidence of the investors and amount reported for this seed round, and it records Binarly’s stated plans and description of its product. It is not evidence that the funding has already produced a particular business outcome or that the platform has achieved a measured reduction in vulnerabilities, response time or cost.
Rank #3
- POWERFUL SECURITY KEY: The YubiKey 5C NFC is the most versatile physical passkey, protecting your digital life from phishing attacks. It ensures only you can access your accounts
- WORKS WITH 1000+ ACCOUNTS: Compatible with popular accounts like Google, Microsoft, and Apple. A single YubiKey 5C NFC secures 100+ of your favorite accounts, including email, password managers, and more
- FAST & CONVENIENT LOGIN: Plug in your YubiKey 5C NFC via USB and tap it, or tap it against your phone (NFC), to authenticate. No batteries, no internet connection, and no extra fees required
- MOST SECURE PASSKEY: Supports FIDO2/WebAuthn, FIDO U2F, Yubico OTP, OATH-TOTP/HOTP, Smart card (PIV), and OpenPGP. That means it’s versatile, working almost anywhere you need it
- PRIMARY & SPARE KEYS: Just like having a spare house key, we recommend buying two YubiKeys - one for daily use and one as a spare. That way you’ll never get locked out of your accounts
The company release also says Binarly reported and fixed “hundreds of serious software defects” and describes LogoFAIL as having exposed “billions of devices worldwide.” Those are company-stated descriptions in the announcement; the cited sources do not independently verify those measurements.
Cisco Investments Vice President Janey Hoe said, “Securing firmware has never been as crucial as it is today,” and characterized Binarly as providing a security layer beneath operating systems. That is an investor’s assessment quoted in the company announcement, rather than an independent evaluation. Binarly CEO Alex Matrosov said the platform was built to address an industry gap and provide “verifiability and inspectability” across software and firmware supply chains.
Quick Recap
Rank #4
- POWERFUL SECURITY KEY: The Security Key NFC is the essential physical passkey for protecting your digital life from phishing attacks. It ensures only you can access your accounts.
- WORKS WITH 1000+ ACCOUNTS: Compatible with Google, Microsoft, and Apple. A single Security Key NFC secures 100 of your favorite accounts, including email, password managers, and more.
- FAST & CONVENIENT LOGIN: Plug in your Security Key NFC via USB-A and tap it, or tap it against your phone (NFC) to authenticate. No batteries, no internet connection, and no extra fees required.
- TRUSTED PASSKEY TECHNOLOGY: Uses the latest passkey standards (FIDO2/WebAuthn & FIDO U2F) but does not support One-Time Passwords. For complex needs, check out the YubiKey 5 Series.
- BUILT TO LAST: Made from tough, waterproof, and crush-resistant materials. Manufactured in Sweden and programmed in the USA with the highest security standards.
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