Nozomi Secures $100M Investment to Boost Cyber Defense Efforts
In an era where cyber threats loom larger than ever, particularly against critical infrastructures, Nozomi Networks, Inc. has emerged as a vanguard in developing comprehensive cybersecurity solutions. The company recently announced a formidable milestone in its journey—a $100 million Series E funding round. This significant infusion of capital aims to accelerate the pace of innovation in cyber defense products and services, catering to the pressing needs of industrial and critical infrastructure domains.
The funding round saw participation from a cadre of heavyweight investors deeply entrenched in the operational technology (OT) environment. Leading the charge were Mitsubishi Electric, renowned for its advancements in digital manufacturing, electronics, and electrical equipment, alongside Schneider Electric, a titan in digital automation and energy management. The involvement of these conglomerates underscores a shared vision for robust cybersecurity measures that transcend proprietary solutions, addressing the heterogeneity of today’s industrial environments.
Edgard Capdevielle, President and CEO of Nozomi Networks, elucidated the company’s mission, stating, “As we meet with customers around the globe, it’s unequivocal that they manage highly diverse environments and seek a security platform capable of defending them effectively.” He further emphasized the significance of the investment, highlighting it as a testament to the burgeoning demand for OEM-agnostic security solutions amidst a landscape characterized by escalating attacks on critical infrastructure across the world.
The fresh capital aims to bolster Nozomi Networks’ efforts in scaling its product development and refining its go-to-market strategies on a global scale. The company identifies the proliferation of criminal and nation-state cyber threats against industrial and critical infrastructure, coupled with the consolidation in the OT and IoT security domain, as critical motivators behind its pursuit of versatile and inclusive cybersecurity solutions.
Barbara Frei-Spreiter, Executive Vice President of Industrial Automation at Schneider Electric, echoed the sentiment of urgency, asserting, “With the increasing risk of cyber threats facing critical infrastructure owners everywhere, now is not the time to compromise on cybersecurity.” Similarly, Satoshi Takeda, Chief Digital Officer at Mitsubishi Electric, highlighted the investment’s timeliness, given the escalating importance of fortifying critical infrastructure against cyber breaches.
Nozomi Networks benefits from an extensive network of support within the OT and IoT Original Equipment Manufacturer (OEM) communities. The company boasts existing partnerships with industry leaders such as ABB, Emerson, GE Vernova (formerly GE Power and GE Renewable Energy), Hitachi Energy, Honeywell, Johnson Controls, Mitsubishi Electric, Mitsubishi Heavy Industries, Schneider Electric, Siemens, and Yokogawa. These collaborations are pivotal to Nozomi Networks’ mission to deliver comprehensive and scalable cybersecurity solutions.
This latest funding round represents a significant milestone for Nozomi Networks, amplifying its commitment to leading the charge in cybersecurity innovation. With the backing of key players in the OT environment, the company is poised to make substantial strides in protecting critical infrastructure from the ever-evolving spectrum of cyber threats.
