Claroty, a cybersecurity and operational technology (OT) network protection company, announced Tuesday it raised $32 million in venture capital and also is launching a new advanced cybersecurity platform.
The new investment is coming from Bessemer Venture Partners, Innovation Endeavors, Marker LLC, ICV, Red Dot Capital Partners and Mitsui & Co., Ltd.
Claroty was established as the second startup of the Team8 Israeli cybersecurity foundry. It focuses on protecting industrial control systems (ICS) and OT networks. It is based out of both New York and Tel Aviv, Israel.
“We have been keenly interested in the critical infrastructure security sector for the last few years. We looked at several companies in the space and were not impressed until we found Claroty. They have the best vision for addressing this unique sector, a very impressive management team and serious depth in both OT and cybersecurity,” David Cowan, partner at Bessemer Venture Partners, said in a statement.
“Marker LLC and Innovation Endeavors looks to invest in companies that can drive transformative change, not incremental improvement,” Yuval Shachar, partner at Marker LLC and Innovation Endeavors, said
“The Claroty team has developed advanced technology to protect these critical networks and is establishing a foundation for what will be one of the next major pillars in the cybersecurity marketplace,” he added.
The new Claroty Platform offering form the company aims to provide “extreme visibility into industrial control systems,” the company said. It uses high-fidelity models and advanced algorithms to monitor ICS communications and provide security and process integrity alerts.
“Industrial operations are becoming networked operations across every segment of industry, infrastructure and manufacturing. Claroty enables its customers to get the most from their networked operations in a secure and dynamically manageable manner,” Meir Ukeles, partner at ICV and chairman of Claroty’s board, said in a statement.