Nozomi Networks, a front-runner in operational technology and IoT security, has successfully closed a $100m Series E investment round.
This significant capital influx, contributed by Mitsubishi Electric and Schneider Electric alongside other OT original equipment manufacturers (OEMs), marks a strategic move to advance Nozomi Networks’ mission in safeguarding global critical infrastructure against increasing cyber threats.
The funding will fuel the company’s endeavors in enhancing its cybersecurity solutions and facilitating its global market expansion more cost-effectively. Nozomi Networks stands out for its OEM-agnostic security platforms, designed to secure diverse and complex operational environments against a backdrop of escalating cyber attacks on critical infrastructure worldwide.
With cyber threats from criminals and nation-states intensifying, the demand for Nozomi Networks’ comprehensive security solutions has soared. The investment arrives at a critical moment, aiming to broaden the company’s product development and global go-to-market strategy. In the face of recent consolidations within the OT and IoT security sector, Nozomi Networks’ vision of delivering full-featured, vendor-neutral cybersecurity solutions is more pertinent than ever. These solutions are tailored for industrial and critical infrastructure organizations that navigate multifaceted, multi-vendor environments.
Notable quotes include reflections from the company’s leadership and investors on the strategic importance of this funding. Nozomi Networks President and CEO Edgard Capdevielle highlighted, “This investment clearly underscores the need and support for OEM-agnostic security solutions in light of today’s escalating attacks against critical infrastructure around the world.”
Barbara Frei-Spreiter, Executive Vice President of Industrial Automation at Schneider Electric, emphasized the partnership’s dedication to providing scalable cybersecurity solutions, “This investment speaks to ensuring the market has access to robust cybersecurity solutions that can scale without compromise across heterogeneous industrial and critical infrastructure environments and reinforces the importance of interoperability across systems and vendors.”
Previously, Nozomi Networks has garnered support from a spectrum of OT and IoT OEMs, including Honeywell and Johnson Controls, underpinning its broad industry endorsement and commitment to securing the operational technology that underpins global infrastructure.
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