Israeli industrial cybersecurity firm Indegy has raised $18 million in a Series B funding round, the company announced last week. The financing was led by Liberty Technology Venture Capital, with participating from Centrica plc, O.G. Tech Ventures and existing investors like Shlomo Kramer, Magma Venture Partners, Vertex Ventures and Aspect Ventures.
Start-Up Nation Central reports that the company, which has a cybersecurity suite that helps protect systems used in manufacturing, energy, water, pharmaceuticals, and other critical infrastructures from cyber attacks, has raised $36 million in total to date.
The company said the funds will be used to expand its market initiatives and growth. The company has also hired key executives for its management team to accelerate growth.
“Recent reports by the DHS and FBI regarding attacks against critical infrastructures have created a greater sense of urgency among industrial organizations to shore up their defenses, and produced a major spike in new business for Indegy,” said Indegy CEO Barak Perelman. “This capital infusion provides the financial resources required to scale up the company and capitalize on this market opportunity. On the management front, the addition of Joe Scotto as CMO and Todd Warwick as VP Sales, Americas, gives us the experienced leadership we need to escalate our growth and market expansion.”
The company, which has offices in Tel Aviv and New York, provides threat detection services for customers that operate industrial control systems (ICS.)