Finite State, a developer of an AI-driven platform for product security and software supply chain risk management, has secured $27 million in a Series C funding round. The investment was led by private funds managed by The O.H.I.O. Fund.
Additional participants in the round included CIBC Innovation Banking, Energy Impact Partners, Energize Capital, and National Grid Partners. The company intends to use the new capital to scale its autonomous platform and expand its international operations.
The Finite State platform analyzes software and firmware within finished devices, including vehicles, medical equipment, and industrial infrastructure. It identifies both known and zero-day vulnerabilities to assist manufacturers in meeting global security mandates.
The funding arrives amid a rise in AI-discovered software flaws, a trend industry leaders have termed the Vulnpocalypse. The company aims to help manufacturers address regulatory requirements such as the EU Cyber Resilience Act and various automotive and industrial standards.
The global IoT security market is projected to grow from $28.67 billion in 2025 to $80.30 billion by 2031. Finite State serves a diverse customer base, including national security laboratories, global automakers, and critical infrastructure providers.
