- August 02, 2021
- Nozomi Networks
- News
Summary
Nozomi Networks Inc., the leader in OT and IoT security, today announced a $100 million pre-IPO-funding round to help accelerate the company’s growth phase and extend its market leadership.
Aug. 2, 2021 - Nozomi Networks Inc., the leader in OT and IoT security, today announced a $100 million pre-IPO-funding round to help accelerate the company’s growth phase and extend its market leadership. Led by Triangle Peak Partners, the Series-D round also includes investments from a large stable of equipment, security, service provider and go-to-market companies including:
- Forward Investments
- Honeywell Ventures
- In-Q-Tel
- Keysight Technologies
- Porsche Ventures
- Telefónica Ventures
“As we began the fund-raising process, many of the largest ecosystem partners in the world along with our customers recognized Nozomi Networks as the industry leader and requested the opportunity to invest in the company,” said Edgard Capdevielle, president and CEO of Nozomi Networks. “It’s the ultimate endorsement when not only a prestigious firm such as Triangle Peak Partners leads the investment, but customers and partners embrace Nozomi Networks and further validate our market leadership.
The company will use this latest investment to help scale product development efforts as well as its go-to-market approach globally. Specifically, Nozomi Networks will grow its sales, marketing and partner enablement efforts, and enhance its products to address new challenges in both the operational technology (OT) and internet of things (IoT) visibility and security markets. With ransomware and malware attacks on organizations and critical infrastructure at an all-time high, the need for Nozomi Networks solutions has never been greater.
This round is the latest in a series of milestones for the company, including:
- a record year of growth in 2020
- 110% increase in annual recurring revenue
- 2x expansion of its customer base
- 5,000% growth in the number of devices its solutions monitor
- Entering 2021, Nozomi Networks continues to exceed its revenue goals
- In May, VDC Research recognized Nozomi Networks as the overall share leader for industrial cybersecurity software based on 2020 revenue
- In June, the company’s plans to build a Cyber Center of Excellence with Lockheed Martin moved forward when the Swiss Federal Council announced it has selected Lockheed Martin’s F-35 from its New Fighter Aircraft competition
Triangle Peak Partners was joined by all prior investors, including GGV Capital, Lux Capital, Energize Ventures, Planven Investments SA, and Activate Capital.
About Nozomi Networks
Nozomi Networks accelerates digital transformation by protecting the world’s critical infrastructure, industrial and government organizations from cyber threats. Our solution delivers exceptional network and asset visibility, threat detection, and insights for OT and IoT environments. Customers rely on us to minimize risk and complexity while maximizing operational resilience.
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