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Boston, BusinessWire, April 30, 2018: Minim, an IoT platform whose technology protects connected devices and assures fast WiFi in homes, today announced a $2.5M seed round of funding, led by Flybridge Capital Partners and Founder Collective. Minim was established last year by Jeremy Hitchcock, former co-founder and CEO of Dyn (ACQ: Oracle), in response to the massive Mirai DDoS attack that took down Dyn, and several major internet services with it, in October 2016. The company will use the funding to develop its WiFi management and IoT security platform.
“As billions of IoT devices enter homes, consumers are sold on the expectations that their smart TVs can stream 4K video and their webcam isn’t spying on them,” said Hitchcock. “Unfortunately, reality can be very different. Meanwhile, as ISPs compete on WiFi quality, support, and service, they are wasting an estimated $1.2 billion on sending trucks and care reps to homes because they lack proper remote network visibility. Network care providers need more sophisticated applications to manage complex home networks and offer security solutions. This is what we are developing at Minim.”
With this funding announcement, Minim is officially launching its connected home management and security solutions, which now include: a mobile app for consumers (available in the iTunes Store and Google Play Store), the Minim Care Portal for ISPs, and the Minim router agent. Minim’s core technology automatically fingerprints connected devices on home networks and dynamically develops a behavioral model of communications, enabling real-time performance optimization and security threat detection. The company is piloting solutions with ISPs and channel partners.
“We have been working with Minim for the past year and are excited about their approach to helping us better manage and secure home networks,” said Stephen Barraclough, General Manager of Burlington Telecom, a leading local Internet Service Provider in Vermont. “Minim understands the unique challenges service providers face supporting our customers’ increasingly complex home networks. Their tools are improving our interactions with customers and reducing truck rolls.”
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