Industrial Cybersecurity Firm Claroty Raises $140M
Industrial cybersecurity firm Claroty has secured $140 million in a Series D financial round co-led by Bessemer Venture Partners’ Century II fund, specifically designed for growth-stage market-leading companies,and 40 North, the investment arm of privately held global industrial company Standard Industries.
Additional strategic investors included LG and I Squared Capital’s ISQ Global InfraTech Fund. All previous investors, including Team8, Rockwell Automation, Siemens, and Schneider Electric, also participated in the round, bringing the company’s total capital raised to $235 million.
Headquartered in New York City, Claroty was founded in 2015 and exited stealth mode in 2016. The company works across industries such as pharmaceuticals, chemicals, mining, manufacturing, medical devices, and oil and gas, to provide large enterprises with visibility, threat detection, risk. and vulnerability management, and secure their operational technology (OT), Internet of Things (IoT), and industrial IoT (IIoT) assets. Customers include Pfizer, General Motors, Coca-Cola EuroPacific Partners (Australia, Pacific, Indonesia), Rockwell Automation, Siemens, and Schneider Electric.
Earlier this month, Claroty unveiled the Claroty Edge, a new, patent-pending addition to The Claroty Platform that it says delivers 100 percent visibility into industrial networks in minutes
Claroty says the new investment will be used to expand into new regions and verticals, and has positioned the company at the forefront of the market with the resources, experience, and capabilities needed to shore up industrial cyber defenses for the future. The company revealed that it worked closely with Pfizer, for example, to secure its COVID-19 vaccine supply chain in the race to meet global demand.
“Our mission is to drive visibility, continuity, and resiliency in the industrial economy by delivering the most comprehensive solutions that secure all connected devices within the four walls of an industrial site…,” said Yaniv Vardi, CEO of Claroty. “With this new investment from the most prestigious firms in the world, we have the financial runway to execute on our proven product strategy in a hyper-growth market, with a world-class leadership team and a strong ecosystem of partners to take us there.”
“We launched Bessemer’s growth fund to invest specifically in clear market leaders,” said David Cowan, partner at Bessemer Venture Partners. “We are focused on helping the next generation of category-defining companies that have standout product-market fit, scalability, and a strong executive team. Since our first investment in Claroty in 2016, the company has continued to demonstrate that it has the best vision, team, and technology to address the unique challenges in the critical infrastructure security sector.”