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Read the pitch deck that snagged a $140 million round for Claroty, the biggest ever in the hot field of industrial cybersecurity
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- The industrial cybersecurity startup Claroty announced a $140 million Series D investment round.
- This is the latest round in a booming industrial segment of cybersecurity that is making headlines.
- Here is the pitch deck that helped land Claroty its massive $140 million round.
Startup Claroty announced a $140 million Series D financial round on Thursday, which the company says is the largest yet in the booming industrial cybersecurity sector that protects power grids, water supplies, and factories from cyberattacks.
Claroty’s new round is co-led by Bessemer Venture Partners’ Century II fund and 40 North. Additional strategic investors include LG, and I Squared Capital’s ISQ Global InfraTech Fund. All previous investors, including Team8 and long-time customers and partners Rockwell Automation, Siemens, and Schneider Electric, also participated. The round brings the company’s total funding to $235 million. The company did not comment on valuation, but PitchBook pegged it at $1 billion after the new round.
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Claroty, an NYC startup founded in 2015, worked closely with Pfizer to secure its COVID-19 vaccine supply chain, and counts General Motors, Rockwell Automation, and Siemens as customers.
This is the latest round in a segment of cybersecurity that is making headlines in both investing and national security news.
In February a hacker tried to poison the water supply of a Florida town, and many Americans realized for the first time just how vulnerable industrial sites are to cyberattack. Since then ransomware attacks have sparked a gas crisis, and crashed the meat-supplier JBS for a month. In a summit with Russian President Vladimir Putin this month, cyberattacks on industrial sites were a major policy item for President Joe Biden.
The new focus on industrial cybersecurity has caused a market boom. Last year the Washington, DC, area startup Dragos raised a $110 million Series C venture funding round. And in February, Silicon Valley industrial security firm Armis raised a $125 million private equity round.
Yaniv Vardi, CEO of Claroty, said in a statement that “we have the financial runway to execute on our proven product strategy in a hyper-growth market.”
Here is the pitch deck that helped land Claroty its big $140 million round:
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