Nozomi Networks: OT And IoT Security Company Raises $100 Million – Pulse 2.0

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Operational technology (OT) security and Internet of Things (IoT) security leader Nozomi Networks announced a $100 million Series E funding round to accelerate innovative cyber defenses and expand cost-efficient go-to-market expansion globally.

This latest funding round includes investments from Mitsubishi Electric and Schneider Electric. Nozomi Networks will use this latest funding round to help scale product development efforts and its go-to-market approach globally. 

As criminal and nation-state cyber threats to industrial and critical infrastructure are rising, the need for Nozomi Networks solutions has never been more important. At the same time, recent consolidation in the OT and IoT security space is driving a need for fully featured solutions that are not limited to single-vendor support but can holistically address the cybersecurity requirements of the vast majority of industrial and critical infrastructure organizations that must protect complex and multi-vendor environments.

Nozomi Networks’ customers benefit from the company’s wide industry support from the OT and IoT OEM community, with existing partnerships with ABB, Emerson, GE Vernova, Hitachi Energy, Honeywell, Johnson Controls, Mitsubishi Electric, Mitsubishi Heavy Industries, Schneider Electric, Siemens, and Yokogawa. These partnerships enable Nozomi Networks to offer superior support for customers’ heterogeneous operating environments.

This funding round is the latest in a series of milestones for the company, including over 105 million OT, IoT, and IT devices protected worldwide; 12,000+ installations spanning six continents; 5x organic growth in ARR since launching its flagship Vantage product in 2021; over 2,000 Certified Nozomi Networks Engineers worldwide.

Mitsubishi Electric and Schneider Electric join a distinguished list of Nozomi Networks investors, including Activate Capital, Energize Capital, Forward Investments, GGV Capital U.S., Honeywell Ventures, In-Q-Tel, Johnson Controls, Keysight Technologies, Lux Capital, Planven Investments SA, Samsung, Porsche Ventures, Telefónica Ventures, and Triangle Peak Partners.

KEY QUOTES:

“As we meet with customers around the world, the reality is that they operate highly heterogeneous environments and are looking for a security platform that can effectively defend those environments. This investment clearly underscores the need and support for OEM-agnostic security solutions in light of today’s escalating attacks against critical infrastructure around the world.”

  • Edgard Capdevielle, President and CEO of Nozomi Networks

“With the increasing risk of cyber threats facing critical infrastructure owners everywhere, now is not the time to compromise on cybersecurity. As a partner of Nozomi Networks, we have collaborated over the years to provide customers with cybersecurity solutions and services that help them to control, prevent and mitigate risks to their operations. This investment speaks to ensuring the market has access to robust cybersecurity solutions that can scale without compromise across heterogeneous industrial and critical infrastructure environments and reinforces the importance of interoperability across systems and vendors.” 

  • Barbara Frei-Spreiter, Executive Vice President of Industrial Automation, Schneider Electric

“There’s never been a more important time to invest in critical infrastructure cybersecurity, and Nozomi Networks stands out globally as a leading supplier in that segment. Nozomi Networks’ unique R&D model and ability to innovate and scale quickly sets them apart. Customers and partners all rely on Nozomi Networks’ expertise and constantly advancing technology to secure the industrial infrastructure that runs the world.”

  • Satoshi Takeda, Chief Digital Officer, Mitsubishi Electric

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