Nozomi Networks Secures $100M Pre-IPO Funding

Nozomi Networks Secures $100 Million in Pre-IPO Funding

Nozomi Networks, a pioneering cybersecurity company focused on protecting vital infrastructure, has successfully raised $100 million in a pre-IPO funding round.

Investment Details

Triangle Peak Partners spearheaded the Series D funding. Additional investment was provided by a consortium of companies spanning equipment manufacturing, security services, and market access, including Honeywell Ventures, Keysight Technologies, and Porsche Ventures.

Growing Threat Landscape

This financial injection arrives during a period of heightened vulnerability. The frequency and severity of cyberattacks targeting industrial control systems (ICS) saw a significant rise throughout the pandemic.

Recent high-profile incidents, such as the ransomware attacks on Colonial Pipeline and JBS in May and June, demonstrate the potential for disruption. These attacks forced operational shutdowns of critical industrial processes.

Nozomi Networks' Solution

Nozomi Networks positions itself as a competitor to companies like Dragos and Claroty. Their industrial cybersecurity solution is designed to proactively identify and neutralize threats to ICS devices, thereby preventing attacks.

The company’s technology delivers real-time visibility, enabling organizations to effectively manage cyber risks and bolster the resilience of their industrial operations.

Significant Growth and Market Reach

Currently, the platform supports nearly 50 million devices across diverse sectors. These include critical infrastructure, energy, manufacturing, mining, transportation, and utilities.

Nozomi Networks experienced substantial growth in 2020, doubling its customer base and achieving a 5,000% increase in the number of devices monitored by its solutions.

Future Plans

This latest funding, secured less than two years after a $30 million Series C round, will be allocated to expanding product development and strengthening global market reach.

The company intends to enhance its sales, marketing, and partner programs. Furthermore, upgrades are planned for its product suite to address evolving challenges in both Operational Technology (OT) and Internet of Things (IoT) visibility and security.