Nozomi Networks, an industry cybersecurity startup aimed at protecting critical infrastructure from cyberattacks, has raised $100 million in pre-IPO funding.
The Series D funding round was led by Triangle Peak Partners, and also includes investments from a number of equipment, security, service providers and go-to-market companies, including Honeywell Ventures, Keysight Technologies and Porsche Digital.
This funding comes at a critical time for the company. Cyber attacks on industrial control systems (ICS) – equipment required for the continuous running of power plants, water supplies and other critical infrastructure – increased in both frequency and severity during the pandemic. Look no further than May and June, in which ransomware attacks targeted Colonial Pipeline and the IT network of meat manufacturing giant JBS, forcing companies to shut down their industrial operations.
Nozomi Networks, which competes with Dragos and Claroti, claims its industrial cybersecurity solution, which detects and secures threats before they hit ICS devices, aims to prevent such attacks from occurring. Is. It provides real-time visibility to help organizations manage cyber risk and improve resilience to industrial operations.
The technology currently supports more than one million devices in sectors such as critical infrastructure, energy, manufacturing, mining, transportation and utilities, with Nozomi Networks doubling its customer base in 2020 and a 5,000% increase in the number of devices. have seen growth. Monitor its solution.
The company will use its latest investment, which comes less than two years after securing $30 million in Series C funding, to enhance its market outlook along with product development efforts.
Specifically, Nozomi Networks said it plans to enhance its sales, marketing and partner enablement efforts and upgrade its products to address new challenges in both the OT and IoT visibility and security markets.