Cybersecurity company Claroty has secured $140 million in a Series D financial round. The company plans to use the new funding to accelerate its expansion into new verticals and regions, as well as to further enhance its product portfolio.
According to the company, the round marks the largest investment ever made within the industrial cybersecurity sector, establishing Claroty’s market leadership as the world grapples with an uptick in cyber attacks on critical infrastructure in recent months.
The round is co-led by Bessemer Venture Partners’ Century II fund, which is specifically designed for growth-stage market leading companies that will define the next century, and 40 North, the related investment arm of privately-held global industrial company Standard Industries. Additional strategic investors include LG, the global innovator in technology and manufacturing, and I Squared Capital’s ISQ Global InfraTech Fund.
All previous investors, including Temasek, Team8, and long-time customers and partners Rockwell Automation, Siemens, and Schneider Electric, have also participated. The round brings the company’s total funding to $235 million.
Claroty will use the funds to meet global demand for The Claroty Platform’s visibility, threat detection, risk and vulnerability management, and secure remote access capabilities by expanding into new verticals and regions, growing global headcount, bolstering its commitment to securing IoT devices, and further empowering customers’ journey to the cloud.