IoT and Industrial cybersecurity tech startup Nozomi Networks raises $100M to protect critical infrastructure including oil & gas, and pipelines

In recent years, the frequency and severity of cyberattacks against the world’s critical infrastructure, particularly pipelines, electric & power grid, oil & gas, and manufacturing verticals, has increased exponentially. That’s why one startup makes its mission to protect and provide an industrial cybersecurity solution for real-time visibility to manage cyber risk and improve resilience for industrial operations.

Nozomi Networks is a San Francisco-based industrial cybersecurity startup that supports over a quarter of a million devices in sectors such as critical infrastructure, energy, manufacturing, mining, transportation, and utilities, to tackle escalating cyber risks to operational networks (OT).

Today, Nozomi announced it has raised $100 million in pre-IPO funding round to help accelerate the company’s growth phase and extend its market leadership. The round was led by Triangle Peak Partners, with additional investments from customers including Dubai Electricity and Water Authority’s Forward Investments, Honeywell Ventures, In-Q-Tel, Keysight Technologies, Porsche Ventures, and Telefónica Ventures.

Founded in 2013 by Andrea Carcano, Moreno Carullo, Nozomi Networks specializes in protecting critical infrastructure such as oil, gas, and water, as well as manufacturing facilities, said Chief Executive Officer Edgard Capdevielle.

Nozomi’s software monitors machines, including valves and pipelines, to see if there are any anomalies and then alerts companies about where urgent fixes are needed to protect the facilities from hackers, said Capdevielle. Its software also tracks down the different machines and devices that are connected to the internet to monitor them.

“As we began the fund-raising process, many of the largest ecosystem partners in the world along with our customers recognized Nozomi Networks as the industry leader and requested the opportunity to invest in the company,” said Edgard Capdevielle, President and CEO of Nozomi Networks. “It’s the ultimate endorsement when not only a prestigious firm such as Triangle Peak Partners leads the investment, but customers and partners embrace Nozomi Networks and further validate our market leadership.”

“Digitalization is changing and disrupting entire industries, including the automotive sector. Cybersecurity is playing a crucial and growing role for all companies and their internal processes and production facilities as cyber-attacks have become a serious threat. This investment fuels advancement in precision OT and IoT Security as Nozomi Networks’ technology ensures optimal data security and network monitoring. We are excited to strengthen our partnership with Nozomi Networks to improve the security within the supply chain of important industries,” Stephan Baral, Head of Porsche Ventures Region US.