Finite State

Most of the code in a connected device was written by someone else, and the manufacturer answers for all of it. Finite State sells a platform that opens the finished firmware image, which the company says holds only a small fraction of the maker's own code, and works out what is really inside. Customers are device makers in sectors such as automotive, medical devices, energy and utilities, industrial systems and government.

Reading the build that actually ships

Instead of trusting a manifest or a source tree, the platform analyzes the compiled firmware and maps each component, including ones suppliers never declared, with its software, hardware, architecture and supplier. The company puts the number of binary formats it handles at more than 130 and says a build is analyzed in minutes, with no source code required. When a new flaw is disclosed, it can find which products share the vulnerable code, sometimes before a CVE exists.

Four checks on every finding

Finite State argues that finding flaws has become cheap and triage is the costly part. Each finding is tested for reachability, whether it is being exploited in the wild, whether it has the exposure that matters in that product, and whether a fix is possible. Findings that fail close automatically with a VEX record explaining why, and the company claims up to 90 percent less alert noise. Engineers work the few that remain.

Evidence for regulators and buyers

Rules such as the EU Cyber Resilience Act, FDA premarket cybersecurity requirements, UNECE R155 and R156 for vehicles, and IEC 62443 for industrial systems put the burden of proof on the manufacturer. The platform generates SBOMs, VEX documents, traceability and audit ready evidence packs, and supports threat modeling from design onward. Professional services cover penetration testing, strategic advisory, certification support, training and a managed service for the Cyber Resilience Act evidence program.

Key facts

Headquarters: Columbus, Ohio, United States Customer type: connected device manufacturers (IoT, automotive, medical, energy, industrial, government) Funding stated by the company: $27 million Series C led by private funds managed by The O.H.I.O. Fund, announced 10 November 2026, with CIBC Innovation Banking, Energy Impact Partners, Energize Capital and National Grid Partners Media contact: press@finitestate.io