Munich Re makes strategic investment in cybersecurity firm Sepio Systems

Global reinsurer Munich Re has made a strategic investment in Rogue Device Mitigation (RDM) company Sepio Systems to help expand Sepio's market presence and product offering.

Following the recent Series A round, Sepio has secured an additional $4 million from Munich Re Ventures and Hanaco Ventures, which brings the total investment in the company to $15 million.

Additionally, Sepio has worked with Munich Re's new technologies and AI underwriting team, where the reinsurer has validated Sepio's innovative approach to rogue device mitigation to decrease the customer's overall hardware security risk. Sepio will provide a performance guarantee to its customers backed by a subsidiary of Munich Re.

"Sepio is filling a critical gap in hardware security by providing visibility and management of attacks from an organization's network to its physical layer," said Jacqueline LeSage Krause, managing director, Munich Re Ventures. "Sepio's ability to fingerprint physical devices and detect rogue behavior is attracting interest from global organizations seeking to understand what rogue devices are living in their walls and on their networks. We look forward to working with Sepio on growing their market presence and product offering."

Andre Knoerchen, head of new technologies and AI underwriting, Munich Re, added: "Sepio's technology was deeply explored by our specialists and we found it superior to existing rogue device detection and mitigation techniques. This partnership is just the first step in a long and collaborative relationship where customers will benefit from Sepio's ability to create unique and innovative solutions to secure hardware devices while being backed by Munich Re's performance guarantee insurance."

Yossi Appleboum, co-founder & CEO, Sepio Systems, commented: "Our ability to offer instant detection and response to any threat or breach attempt coming from infected or manipulated devices has set Sepio apart and created incredible interest from the investment and customer community.

"With a new R&D center in Lisbon and our expansion to Europe, with offices opening in the United Kingdom and Germany, Sepio is growing at an exponential rate and this additional funding is fueling that growth. Our partnership with Munich Re continues to expand our presence globally and highlights the synergy between insurance and RDM."