“Recent research cites that security solutions for IoT are at least two years away, but Lexumo has the right technology and business model to tackle this problem today.”According to the company, there were approximately 52 million downloads in 2014, of vulnerable components from the Central Repository, which supplies widely-used shareable components developed by open source organizations such as The Apache Software Foundation, Atlassian, RedHat (JBoss), and Oracle (Java). When these vulnerable components are integrated into a company’s software, their products and applications are at risk. Kaigham J Gabriel, President and CEO of Draper, added, “The IoT is vulnerable because humans are fallible. The Lexumo team applied automated big data analysis to eliminate open-source security vulnerabilities across all sectors of critical national infrastructure and commercial enterprises. The team built the first implementation of the initial concept at Draper, and we are thrilled to spin out Lexumo.” Lexumo’s analytics technology was originally developed at Draper Labs five years ago with DARPA (Defense Advanced Research Projects Agency) funding. DARPA is a US Department of Defense agency, responsible for the development of emerging technologies for use by the military. For the record, Gabriel is former acting director of DARPA. Lexumo is led by Draper veterans and cyber security experts, Brad Gaynor, Nathan Shnidman. They developed the company’s underlying technology at Draper, and the company was incubated there, with Draper getting an equity stake for its early investment. Gaynor, who besides being the co-founder of Lexumo, is the CEO too, said, “The funding is a validation of our scalable, cloud-based approach to identifying and eliminating open source vulnerabilities in a new and innovative way.” The company currently has four employees and is looking to build a 15-member team by the end of this year. It has openings currently for Security Analytics Engineer, Data Engineer, DevOps Engineer, and SaaS Platform Lead.
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