Palo Alto Networks certainly enjoys buying startups for safety. Recently, as it announced its intention to buy IoT safety startup Zingbox for $75 million. According to Crunchbase information, the firm raised $23.5 million.
After the formal purchase, the three co-founders, Xu Zou, May Wang and Jianlin Zeng, will join Palo Alto. Founded in 2014, Zingbox provides Palo Alto Networks with a contemporary cloud-based solution based on a subscription model and engineering talent to assist further develop the solution. The business receives IoT safety chops with Zingbox, which is becoming progressively crucial as businesses deploy intelligent phones and sensors connected to the internet. While clients can benefit significantly from these instruments, they often carry a enormous safety risk.
This is the company’s fourth safety startup this year. It purchased two businesses on the same day last Spring, nabbing PureSec and Twistlock. It purchased Demisto for $560 million earlier this year. All of these purchases are intended to build up the company’s portfolio of contemporary safety offers without having to construct from scratch these types of in-house instruments.