How Pwnie Express is Positioning to Secure Enterprises from IoT Risks

Security vendor Pwnie Express initially focussed on providing penetration testing tools and hardware to security researchers, but over the course of the last two years has shifted toward focusing on enterprises and the emerging threat from rogue Internet of Things (IoT) devices.

In a video interview with eWEEK, Pwnie Express CEO Paul Paget explains why he thinks his bet on IoT security services and tools is going to pay off for his company and its investors.

"The market is finally waking up to the fact that IoT security is a problem," Paget said. "From a company perspective, we're positioning our work around the IoT security marketplace, which is something we've been working on for a long time."

Among the challenges of IoT security is that many organizations simply aren't sure who is responsible for IoT security within the enterprise. Paget said IoT is typically put into organizations by lines of business operations and not security staff, though he expects a shift is now already occurring.

"We think that ultimately security leaders will take charge of the IoT security challenge," Paget said. 

From a financial perspective, Pwnie Express has raised two rounds of funding to date, bringing in $18 million in total. Paget said that it's likely he'll need to raise an additional round at some point in the future. He noted that his investors want results, but so far they are excited about the opportunity in the IoT security space.

Watch the full video with Paul Paget, CEO of Pwnie Express above.

Sean Michael Kerner is a senior editor at eWEEK and Follow him on Twitter @TechJournalist.