COLUMBUS, OH — March 22, 2024 — Finite State, the leader in comprehensive software risk management for the connected world, today announced that it raised a $20 million growth round led by Energy Impact Partners (EIP). This investment underscores Finite State's pivotal role in addressing critical cybersecurity challenges faced by organizations worldwide and its commitment to advancing innovative solutions for securing connected devices and critical infrastructure.
Finite State's robust growth trajectory comes amid escalating cyber threats and regulatory pressures driving organizations to prioritize software supply chain security. With a focus on providing visibility, transparency, and risk management capabilities, Finite State's platform enables organizations to proactively identify and mitigate vulnerabilities within their software supply chains, safeguarding critical systems and data.
"This funding round marks a significant milestone for Finite State and reaffirms the trust and confidence our investors have placed in our mission," said Matt Wyckhouse, CEO and Founder of Finite State. "In an increasingly interconnected and vulnerable digital landscape, our platform plays a critical role in enabling organizations to effectively manage and mitigate risks in critical software and devices."
The investment from EIP and other strategic investors will empower Finite State to accelerate product development efforts and expand its global market presence. With a focus on innovation and customer-centricity, Finite State will continue to enhance its platform capabilities and deliver unparalleled value to its customers. Building upon industry-leading binary analysis, SBOM management, and unified vulnerability management, these enhancements will enable security teams to keep pace with rapidly evolving security demands.
"We are thrilled to partner with Finite State as they continue to lead the charge in software supply chain security," said Sameer Reddy, Managing Partner at Energy Impact Partners. "While threat actors escalate their targeting of critical infrastructure, they are also focusing their efforts on supply chain vulnerabilities. Finite State’s innovative platform, combined with its proven track record of success, empowers manufacturers and industrial organizations to actively manage this growing risk."
Finite State's commitment to excellence extends beyond its product offerings, as evidenced by its continued investment in talent acquisition and community engagement. The company’s recent high-profile presentation on building an SBOM for an electrical substation at S4x24, alongside Southern Company, demonstrates Finite State’s unwavering commitment to safeguarding critical infrastructure. Also announced at S4x24, Finite State, EPRI, Southern Company, Schneider Electric, Scythe, MITRE, Ameren, and other industry partners have been awarded a Department of Energy funded project to protect the nation’s energy sector from cyber attacks. The project is aimed at advancing the state of the art in vulnerability discovery, triage, and mitigation process for critical, energy sector devices.
As Finite State embarks on its next phase of growth, the company remains steadfast in its mission to empower organizations to secure their software supply chains and protect critical infrastructure from evolving cyber threats.
About Finite State
Finite State is the leading provider of software risk management solutions for connected devices and software supply chains. The Finite State platform is a central hub for device security, delivering continuous visibility into potential software risks. Armed with access to over two billion data points, customers receive actionable insights, encompassing SBOMs, vulnerability data, and remediation guidance. This proactive strategy streamlines the mitigation of application security (AppSec) and product risks, ensuring the safeguarding of critical sectors like consumer IoT, healthcare, automotive, manufacturing, and energy against cyber threats. For more information, please visit https://finitestate.io/
About Energy Impact Partners
Energy Impact Partners LP (EIP) is a global investment firm leading the transition to a sustainable future. EIP brings together entrepreneurs and some of the world’s most forward-looking energy and industrial companies to advance innovation. With over $3 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure – and has a team of over 80 professionals based in its offices in New York, Atlanta, San Francisco, Washington D.C., Palm Beach, London, Cologne and Oslo. For more information on EIP, please visit www.energyimpactpartners.com
