Siga Secures $8.1M Series B Funding - Cybersecurity for Infrastructure

Siga OT Solutions Secures $8.1 Million in Series B Funding

Siga OT Solutions, a cybersecurity firm originating from Israel, has successfully completed a Series B funding round, raising $8.1 million. The company specializes in bolstering the security of organizational operations.

Unique Approach to Industrial Cybersecurity

Siga’s SigaGuard technology distinguishes itself by monitoring the fundamental electrical signals of vital industrial assets. This approach is currently utilized by critical water infrastructure in Israel and the New York Power Authority.

Unlike conventional methods that focus on the operational network, Siga employs machine learning and predictive analytics. This allows it to “listen” to Level 0 signals – the raw electrical impulses received by components and sensors.

Protecting Critical Infrastructure at Level 0

By concentrating on Level 0, described as the “richest and most reliable level of process data,” Siga can identify cyberattacks targeting the most essential and susceptible physical assets.

This proactive detection ensures operational stability, even if attackers manage to compromise the logic of industrial control systems (ICS) controllers. The company asserts this provides a crucial layer of defense.

The Growing Importance of Level 0 Security

Amir Samoiloff, co-founder and CEO of Siga, emphasizes the increasing significance of Level 0 security. He states that securing this level will be a primary focus in control systems globally in the near future.

Escalating Attacks and Investment Drivers

This latest funding round, spearheaded by PureTerra Ventures, with contributions from SIBF, Moore Capital, and Phoenix Contact, arrives during a period of heightened attacks on operational infrastructure.

Israel’s water infrastructure experienced three confirmed cyberattacks in 2020. Subsequently, a Florida city’s water system was targeted, with hackers briefly altering the sodium hydroxide levels in Oldsmar’s water treatment facility.

Expansion Plans Following Funding

The $8.1 million investment follows a $3.5 million Series A funding round secured three years prior. Siga intends to utilize these funds to accelerate sales and forge strategic partnerships internationally.

Key regions of focus include North America, Europe, Asia, and the United Arab Emirates. The company aims to expand its reach and impact on a global scale.