Claroty, the cybersecurity company for cyber-physical systems (CPS) across industrial, healthcare, and enterprise environments, announced Standard Investments, a related business of privately-held global industrial company Standard Industries, as a co-lead investor in its $400 million Series E funding round.
“In addition to co-leading Claroty’s Series D and E rounds, we have also deployed The Claroty Platform across Standard Industries’ manufacturing sites globally,” said David Millstone, co-CEO of Standard Industries and co-CIO of Standard Investments. “We’re proud to deepen our partnership with the proven leader in securing the new industrial revolution.”
The Series E round, coupled with Claroty’s intent to acquire Medigate, a leading healthcare IoT security company, marks the next step in the company’s mission to secure all CPS across industrial, healthcare, and enterprise environments – the Extended Internet of Things (XIoT).
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“Connectivity between the cyber and physical systems that support our lives is paving the way for significant advancements in operational agility and resilience. However, unlocking the full potential of CPS requires organizations to connect all of their IT, IoT, IoMT, and OT assets, and with greater connectivity comes greater exposure to risks,” said Yaniv Vardi, CEO of Claroty. “By acquiring Medigate, with the support of our investors, we are now uniquely positioned to secure the XIoT – from traditional OT devices such as PLCs and HMIs, to medical devices such as MRI machines, to enterprise IoT devices such as smart security cameras and temperature sensors.”
The round brings the company’s total funding to $635 million, making it the most well-funded cybersecurity company in the industrial (OT), healthcare (IoMT), and enterprise IoT sectors. The other co-lead investors of the round are SoftBank Vision Fund 2, Bessemer Venture Partners, and Schneider Electric.
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