Nozomi Networks secures $100 million in Series E funding

Nozomi Networks, a startup, raised $100 million in a Series E capital round to secure internet-connected systems and devices used in critical infrastructure operations.

The cybersecurity startup Nozomi Networks is the most recent industrial technology-focused business to successfully receive substantial investment in recent months, having raised $100 million in a Series E capital round. Nozomi is a technology company that launched its first product in November 2013. Its technology is intended to secure internet-connected systems and devices that are used to support the daily operations of critical infrastructure, including manufacturing facilities, water utilities, oil and gas facilities, and power grids.

Operational technology refers to the group of systems that have traditionally been controlled independently from information technology networks, which include platforms for sales, accounting, human resources, and email. Edgard Capdevielle, president and CEO of Nozomi, stated that this has altered as a result of businesses digitizing workplaces in recent years and an increase in security risks to these systems. Mitsubishi Electric and Schneider Electric, two manufacturers, took part in the competition. To date, Nozomi has raised over $250 million from investors, including the U.S. Central Intelligence Agency's investment arm, In-Q-Tel, and manufacturing companies Honeywell, Johnson Controls, and Keysight Technologies.

The most recent operational technology expert to obtain substantial money in the last 12 months is Nozomi. Cyber defense startup Claroty raised $100 million in strategic financing last week, while industrial cybersecurity startup Dragos closed a $74 million Series D expansion round in September.