NEW YORK – December 16, 2021 – Claroty, the cybersecurity company for cyber-physical systems (CPS) across industrial, healthcare, and enterprise environments, today 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 are deploying The Claroty Platform across all of Standard Industries' manufacturing sites globally," said David Millstone, co-CEO of Standard Industries and co-CIO of Standard Investments. "We fully support Claroty's mission to secure all CPS of connected organizations and firmly believe the company has proven itself to be the 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).
"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, Schneider Electric, and Rockwell Automation.
*Sourced via internal company analysis of Crunchbase data.
About Standard Investments
Standard Investments, a related business of Standard Industries, is a fundamentally-driven investment platform focused on the intersection of industry and technology. Standard Investments deploys capital flexibly and creatively across the public and private markets, spanning the life cycle of a company, and leverages its deep industrial knowledge and operational experience to create value. To learn more, visit www.standardinvestments.com.
About Claroty
Claroty empowers organizations to secure cyber-physical systems across industrial (OT), healthcare (IoMT), and enterprise (IoT) environments: the Extended Internet of Things (XIoT). The company's unified platform integrates with customers' existing infrastructure to provide a full range of controls for visibility, risk and vulnerability management, threat detection, and secure remote access. Backed by the world's largest investment firms and industrial automation vendors, Claroty is deployed by hundreds of organizations at thousands of sites globally. The company is headquartered in New York City and has a presence in Europe, Asia-Pacific, and Latin America.
