Finite State raises $27M Series C for AI-driven device security

Finite State will use the Series C to scale its autonomous product security platform and expand internationally. The company says manufacturers face a growing volume of flaws surfaced by AI tools, and its platform analyzes the software and firmware inside connected devices to find security issues and supply chain risk.

The round also drew participation from CIBC Innovation Banking, Energy Impact Partners, Energize Capital and National Grid Partners. The Columbus, Ohio company describes itself as a leader in product security and software supply chain risk management. The release did not state a valuation or a revenue figure.

For founders, the round shows that investors will fund security tooling for hardware makers, where AI-enabled attackers can exploit weaknesses quickly. Builders selling into industrial or energy customers should note the backing from utility-linked funds, which points to demand beyond pure software buyers.