Industrial Cybersecurity Supplier, Claroty, Attracts $60 Million Series B Investment

By Larry O'Brien

Category:
Financial

Claroty, a major player in cybersecurity for industrial control networks, announced that a prominent syndicate of investors, including industrial operators and control system vendors, invested $60 million in Series B funding, bringing the company’s total investment to date to $93 million.  The round was led by Temasek and included Rockwell Automation, Aster Capital (Sponsored by Schneider Electric), Next47 (Siemens-backed global venture firm), Envision Ventures, and Tekfen Ventures.  Original Claroty investors Bessemer Venture Partners, Team8, Innovation Endeavors, and ICV all participated in the round.

Founded in 2014 and exiting stealth mode in late 2016, this investment comes on the heels of a breakout year for Claroty capped by a 300 percent year-over-year growth in bookings and customer base.  Claroty now has largescale 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).

Claroty’s cybersecurity platform provides extreme visibility into industrial networks and combines secure remote access with continuous monitoring for threats and vulnerabilities – enabling 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.

Engage with ARC Advisory Group