Domain Registration

Cybersecurity co Claroty raises $140m at $1b valuation

  • June 17, 2021

Israeli industrial cybersecurity company Claroty today announced it has completed a $140 million Series D financial round co-led by Bessemer Venture Partners’ Century II fund, and 40 North, with participation of LG and I Squared Capital’s ISQ Global InfraTech Fund as well as previous investors Team8, Rockwell Automation, Siemens, and Schneider Electric.

The round brings the company’s total funding to $235 million. No valuation for Claroty was disclosed but sources believe it was above $1 billion. Most of the latest financing will enter the company’s coffers with only a very small amount going to shareholders who sold a stake.

Claroty was founded in 2014 in the Team8 foundry by chairman Amir Zilberstein, chief business development officer Galina Antova, and CTO Benny Porat. The company, which specializes in cybersecurity for industrial control networks, has 270 employees of whom 140 are in Israel. Yaniv Vardi has been CEO since last year.

Claroty protects vital infrastructures in such areas as electricity, gas and oil, chemicals, water, food and beverage manufacturing, mining and real estate.

Vardi said, “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, including all operational technology (OT), Internet of Things (IoT), and industrial IoT (IIoT) assets. 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.”

Published by Globes, Israel business news – en.globes.co.il – on June 17, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021


Article source: https://en.globes.co.il/en/article-1001374920#utm_source=RSS

Related News

Search