Finite State Inc., which automates the search for security vulnerabilities in the embedded chips and firmware driving millions of wireless devices, has added technology and sales leaders to help lead its next stage of growth.
The Columbus startup founded by a Battelle veteran announced it has hired Gün Akkor as CTO – a new position within Finite State – and Kirk Appelman as executive vice president of sales.
Akkor was part of the founding team of Carbon Black, leading engineering and product development, and stayed nearly nine years, according to his LinkedIn profile, including in an expanded product management role after VMware acquired the Boston-area company for $2.1 billion in 2019 as the foundation of a security division. For the past nine months he's been with Sevco Security in the Philadelphia area.
Matt Wyckhouse, Finite State founder and CEO, was a former CTO himself. Akkor's product and engineering background will deepen the company's research team, Wyckhouse said in a news release. Akkor has a doctorate in electrical and computer engineering.
“Even though billions are spent on security every year, it’s an underserved aspect of technology,” Akkor said in the release. “I saw it first-hand as an electrical engineer and firmware developer. Joining Finite State makes the journey full-circle for me – and it’s exciting to reach back to those roots and partner with developers to address the most pressing security challenges in a new generation of connected devices.”
Dave Bortz, who had been executive vice president of engineering for nearly two years, working from the Chicago area, left in January for another tech company.
Appelman has led sales teams for some 20 years at cybersecurity companies including Juniper Networks, McAfee, Proofpoint and EfficientIP. The growing abundance of connected devices is "the next frontier," he said in the release.
"His ability to build relationships and deeply understand our customers will lead us to finding new innovations that our customers need," Wyckhouse said.
Finite State raised $30 million Series B venture round last summer, while revenue kept growing due to increased cybersecurity threats to electric grids, telecommunications networks and medical devices. Sales had grown tenfold in 2020 over the prior year, and were on track to double in 2021. Customers include electric utilities, oil and gas companies, hospitals, consumer device makers, solar fields, and makers of electric vehicle chargers.
Wyckhouse founded the company in late 2017. Columbus' Drive Capital LLC was an early investor. To date it's raised nearly $50 million; the latest round was to boost hiring even more than its growing sales allowed at the time.
