Nozomi Networks announces $15 Million investment to expand in ICS cybersecurity market | Automation.com

Nozomi Networks announces $15 Million investment to expand in ICS cybersecurity market

Nozomi Networks announces $15 Million investment to expand in ICS cybersecurity market

January 10, 2018 — Nozomi Networks announced it has raised $15 million in Series B financing. The Invenergy Future Fund led the round with participation from THI Investments and all existing investors, GGV Capital, Lux Capital and Planven Investments SA. This latest round brings Nozomi Networks’ total funding to date to $23.8 million.

In 2017 Nozomi Networks experienced strong market demand. The company beat its revenue expectations, gaining new customers across 5 continents. More than 200 Nozomi Networks deployments span energy, manufacturing, pharmaceuticals, chemicals, mining, utilities and other sectors. Led by an executive team of veterans in industrial control cybersecurity and automation technologies, Nozomi Networks quadrupled its field staff and strengthened its partner program.

Nozomi Networks will use the funding to fuel worldwide expansion of marketing, sales and support and bolster product innovation in the the ICS cybersecurity market.  Market and Markets research predicts the ICS cybersecurity market will grow to 13.88 Billion by 2022. Forty-six percent of respondents in the annual SANS ICS survey indicated security budgets are growing and more than half of the companies surveyed in the 2017 State of Industrial Cybersecurity report say they’ve experienced an ICS security incident in the past 12 months.

 

About Nozomi Networks

Nozomi Networks is an Industrial Control System (ICS) cybersecurity with a platform to deliver real-time cybersecurity and operational visibility. Since 2013 the company has innovated the use of machine learning and artificial intelligence to secure critical infrastructure operations. Amid escalating threats targeting ICS, Nozomi Networks delivers one solution with real-time ICS monitoring, hybrid threat detection, industrial network visualization, asset inventory, and vulnerability assessment.
 

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