Cyber-physical security firm Claroty raises $ 400 million in Series E funding

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  • Claroty recently announced that it has raised $ 400 million in Series E funding. Those are the details.

Claroty recently announced the next step in its mission to secure cyber-physical systems (CPS) in industrial, healthcare, and enterprise environments – the extended Internet of Things (XIoT) – by raising $ 400 million in Series E funding and entering into a deal to buy Medigate, one of the leading healthcare IoT security companies. This funding round brings the company’s total funding to $ 635 million, making it the best-funded cybersecurity company in the industry (OT), healthcare (IoMT) and l ‘Enterprise IoT.

The Series E funding round was co-led by new investor SoftBank Vision Fund 2, as well as existing investors Bessemer Venture Partners and Schneider Electric. And other existing investors, including ISTARI (a global cybersecurity platform established by Temasek), Team8 and Standard Investments, also participated. In addition, Yossi Cohen, head of SoftBank’s investment activities in Israel, will join Claroty’s board of directors.

KEY QUOTE:

“While connectivity between cyber and physical systems in manufacturing, healthcare, energy and other sectors generates significant competitive advantages through increased operational agility and resilience, it also creates a greater exposure to risks with serious consequences for patient safety, public safety and the environment. By combining the deep domain expertise and specialized technologies of Claroty and Medigate into one platform, we will take a giant leap in our mission to secure the ever-expanding universe of XIoT for every connected organization. We envision a future where the cyber and physical worlds securely connect to support our lives, and with the strong support of some of the world’s largest technology investors, we have the resources we need to make that vision a success. reality.

– Yaniv Vardi, CEO of Claroty

“As digital transformation initiatives drive the essential physical systems we rely on for even the most basic human needs, securing those systems is ultimately about mitigating the risk to human life. Claroty’s technology addresses a high-stakes issue to enable secure digital transformation, and we look forward to partnering with the team on their journey to protect the critical infrastructure that is the foundation of the AI ​​revolution.

– Yossi Cohen of SoftBank Investment Advisers

“The real threat to society is not Skynet’s AI, but the human hackers who turn our machines against us. We see this happening in hospitals, factories, power and water utilities, transportation, building controls, and oil rigs. Bessemer helped launch Claroty in 2016 to restore confidence in the world’s physical factory – the new frontier for cyber defense; and now, we believe that Forrester’s recognition of the company as a leader in Industrial Control Systems (ICS) security confirms our belief in its capabilities, traction and leadership.

– David Cowan, partner of Bessemer and member of the board of directors of Claroty

“We built the industry’s first dedicated IoT security platform for healthcare, which was named 2021 Best in KLAS for Healthcare IoT Security in the KLAS Software & Services report, to enable healthcare providers to deliver secure and connected care. Becoming a member of Claroty means that our customers will not only continue to enjoy the best security for their healthcare IoT devices, but will also benefit from coverage for the wide range of industrial IoT assets in their networks, without having to assemble tools. disparate for each. “

– Jonathan Langer, co-founder and CEO of Medigate

“As the world continues to digitize rapidly, cybersecurity is becoming a top priority for most organizations. We are delighted to be part of this roundtable and to continue our partnership with Claroty, which has developed the leading industrial cybersecurity platform to protect and manage OT, IoT and IIoT assets, and is now extending this expertise to the care of health to protect XIoT. “

– Heriberto Diarte, CEO of SE Ventures, the investment arm of Schneider Electric

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