Security firm Nodal nabs $100K, ramps up hiring

Good news is stacking up for Kansas City-based Nodal Industries.

Nodal CEO Marcus Eagan

The security hardware tech company recently snagged $100,000 in seed funding as part of an opportunity to participate in the 500 Startup accelerator program, based in Mountain View, Calif. The funding will allow Nodal to hire up to eight people, as well as ramp up production of its Numa product, a network security box that works with high-speed, gigabit connections.

Nodal CEO Marcus Eagan said that the accelerator — which has invested in more than 500 startups around the world — has opened up additional investment opportunities for the company.

“That $100,000 has put us into discussions with other investors,” Eagan said. “Folks have started to listen. … We’ll be closing a round soon.”

Eagan said his company’s device, Numa, helps thwart the average 29 malicious attacks that occur on the Internet each second.

Nodal’s Numa network security box

Numa examines all traffic flowing in or out of one’s network to identify threats, and is ideal for the burgeoning “Internet of Things” market, Eagan said. The network box works to secure such devices as computers, smartphones, IP cameras, smart home equipment, printers and more.

“Tech innovation in this security space moves so fast,” Eagan said. “And cyber criminals are no different. Technology for them moves fast, and a lot of their techniques have remained relatively constant over the last decade but a lot has changed.”

Now in his third week at the accelerator, Eagan said so far the 500 Startup program has helped by offering access to a variety of tech experts. Furthermore, he said the program’s atmosphere has fostered a more accelerated approach to managing his business.

“Everyone’s working late because they want to get the most out of the program,” he said. “It’s really important for you to go as far as possible while you’re out there. You’ve got to take advantage of your resources. You’re in an accelerator — can you accelerate?”