Sepio Systems

Sepio Systems is an asset risk management vendor, headquartered in Gaithersburg, Maryland with R&D in Tel Aviv, Israel, founded in 2016 by Bentsi Ben-Atar, Iftah Bratspiess, Yossi Appleboum, and Greg Poch to address a blind spot most network security tools miss entirely: rogue and manipulated hardware. Its Zero Trust Hardware Access platform fingerprints physical and peripheral devices at the electrical/firmware layer, allowing it to detect spoofed USB devices, compromised network implants, and silent or powered-off rogue hardware that traditional network monitoring — which typically only sees traffic, not physical layer characteristics — cannot see.

The company has raised roughly $40 million across multiple rounds, including a $22 million Series B backed by U.S. Venture Partners, Citi Ventures, and Munich Re Ventures, later supplemented by an $11 million Series B extension. Citi Ventures’ and Munich Re’s participation is notable because both are strategic corporate investors in financial services and insurance, sectors with acute exposure to hardware-based supply-chain and physical-access attacks.

Sepio’s customer base is concentrated in financial services, insurance, healthcare, and manufacturing — industries where regulatory audits and physical facility access controls make rogue-hardware risk a real, examined concern rather than a theoretical one. Its differentiation versus broader network detection and asset-visibility platforms (like Armis or Ordr, which focus more on IoT/OT device inventory over the network) is depth at the physical/electrical layer specifically for peripheral and USB-class devices; CISOs with a documented rogue-hardware threat model (financial trading floors, SCIFs, healthcare device carts) are the clearest fit, more than organizations looking for general-purpose asset inventory.