Industrial cybersecurity solutions provider Nozomi Networks announced on Thursday that it has raised $30 million in a Series C funding round.
The company’s latest financing round was led by Planven Investments SA with participation from GGV Capital, Lux Capital, Energize Ventures (formerly Invenergy Future Fund) and THI Investments – all previous investors.
The funds will be used to broaden the company’s global presence and continue expansion in the research and development department.
The company has raised a total of nearly $54 million, including $7.5 million in October 2016 and $15 million in January 2018.
Nozomi says it has already exceeded its annual revenue goals with over 1,000 product installations that monitor more than 300,000 industrial devices in the oil and gas, utilities, pharmaceutical, manufacturing, chemicals, mining and other critical infrastructure sectors.
The company’s flagship solution, SCADA guardian, aims to improve ICS resiliency and provide real-time operational visibility by leveraging machine learning and behavioral analysis. Nozomi claims its product can automatically track industrial assets and their cyber security risk, monitor ICS networks, remotely secure large and distributed industrial networks, rapidly detect cyber threats and risks, and reduce forensics efforts.
“Since our initial investment in the company, we’ve only grown more excited about this market and in Nozomi Networks management team’s ability to build a global enterprise software company. Nozomi Networks is a customer-focused and reliable organization and it is uniquely positioned to address its clients’ most advanced ICS cybersecurity threats,” said Giovanni Canetta Roeder, CEO of Planven Investments. “Now is the right time to double down on our investment in Nozomi Networks.”
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