Industrial cybersecurity firm Claroty has raised USD 400 million in a Series E funding round co-led by Japanese investment firm SoftBank, the Israeli firm announced on Wednesday.
Existing investors Bessemer Venture Partners and Schneider Electric also co-led the round, joined by other investors like Temasek’s Istari, Team8, and Standard Investments. The round brings Claroty’s total funding to USD 635 million.
Founded in 2014, Claroty develops software to secure the safety and reliability of industrial control networks. The Tel Aviv-based company is considered to be one of the leading industrial cybersecurity platforms. SoftBank’s head of investment activities in Israel, former Mossad chief Yossi Cohen, will join Claroty’s board of directors.
“As digital transformation initiatives drive the essential physical systems that we rely on for even the most basic human needs, securing these systems is ultimately about mitigating risks to human life,” Cohen said in a statement.
“Claroty’s technology addresses a high-stakes problem in enabling safe digital transformation, and we are eager to partner with the team in its journey to protect the critical infrastructure that is the foundation of the AI revolution,” he added.
Claroty has also entered an agreement to acquire healthcare IoT security company Medigate, a company that protects connected medical devices.
“While connectivity between the cyber and physical systems in manufacturing, healthcare, energy, and other industries is driving significant competitive advantages via increased operational agility and resilience, it also creates greater exposure to risks with serious consequences for patient safety, public safety, and the environment,” said Yaniv Vardi, CEO of Claroty.
“We envision a future where cyber and physical worlds safely connect to support our lives. With such strong backing from some of the world’s foremost technology investors, we have the resources we need to make this vision a reality,” Vardi added.
The article was originally published by NoCamels, a leading news website covering breakthrough innovation from Israel for a global audience.