Claroty brings in $60m for cybersecurity platform

Claroty, a cybersecurity business for industrial control networks, has landed $60m in Series B funding.

The round, which brings the company’s total investment to date to $9m, was led by Temasek. It included Rockwell Automation, Aster Capital, Next47, Envision Ventures, and Tekfen Ventures.

Original Claroty investors Bessemer Venture Partners, Team8, Innovation Endeavors, and ICV also participated in the round.

Founded in 2014 and exiting stealth mode in late 2016, Claroty has large-scale customers with production installations across six continents in nine market segments, including electric utilities, oil and gas, chemical, water, manufacturing, food and beverage, mining, and real estate (building management systems, data centers, warehouses).

The rapidly expanding cybersecurity market segment is the result of a “perfect storm” that has placed industrial networks running critical global infrastructures in the spotlight according to the company. These networks are increasingly targeted by advanced nation-state adversaries who are determined to harvest information and gain a persistent presence for potential future attacks.

“Protecting the critical automation systems our customers operate against cyberattacks remains a top priority for the company,” said Frank Kulaszewicz, SVP, architecture & software at Rockwell Automation. “Claroty has been a partner since 2016 and their advanced technology is a key element of our real-time threat detection and monitoring service. Our investment in Claroty is a logical extension of our ongoing strategic partnership.”

Claroty’s cybersecurity platform provides ‘extreme visibility’ into industrial networks and combines secure remote access with continuous monitoring for threats and vulnerabilities. It claims to enable industrial control system operators to protect these important networks.

The company will use investment proceeds to grow the Claroty brand globally, extend its sales and customer support footprint, and continue its rapid pace of product innovation.

“Our unparalleled investor syndicate, which includes some of the most important industrial companies in the world, is a ringing endorsement of Claroty’s technology and the progress our team has made,” said Amir Zilberstein, Claroty co-founder and CEO. “Our mission is to protect the most critical networks on the planet and our comprehensive platform provides our customers with the capabilities they need to accomplish this vitally important task.”

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