Radiflow announces closure of $18 million funding round | Automation.com

Radiflow announces closure of $18 million funding round

Radiflow announces closure of $18 million funding round

July 12, 2018 – Radiflow, a provider of industrial cybersecurity solutions for critical infrastructure, announced that the company has closed an $18 million investment round. This investment round was led by ST Engineering Ventures, the Corporate Venture Capital unit of ST Engineering. Radiflow’s existing investors, led by Zohar Zisapel, also participated in this investment round.

Radiflow provides cybersecurity solutions for industrial control systems (ICS) and Supervisory control and data acquisition (SCADA) networks. Radiflow’s product portfolio, which consists of risk assessment, threat detection and secure remote access tools with unique in-depth industrial asset visibility, anomaly detection and distributed architecture, offers use cases and applications for protecting ICS and SCADA networks.

The cybersecurity risks to the conservative industrial market have been recently highlighted with both focused attacks, such as the Triton case, and IT-based attacks, including the cryptocurrency mining malware attack that Radiflow’s iSID system detected at a waste-water facility. Radiflow is addressing these challenges with its advanced industrial cybersecurity solutions and its rexpanding technology partner ecosystem, which includes recently announced collaboration with Palo Alto Networks and RSA, to ease field deployments and ensure compliance with the new regulations, including NERC CIP and the EU NIS Directive.

Radiflow will use the investment proceeds to extend its sales network to support the growing market demand, strengthen its brand globally and continue developing its innovative solutions to meet the evolving customer needs.

The investment and partnership enables ST Engineering to access Radiflow’s detection and prevention tools, which has been integrated with its Rail Command, Control and Communications (C3) Systems (SCADA) – in this instant the rail supervisory control and data acquisition (SCADA) system. The combining of these two technologies has resulted in the development of the region’s first end-to-end cybersecurity solution for the rail transport industry 

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