As people continue to work from home and our reliance on technology to store information increases, the need for cybersecurity in many sectors of tech keeps growing.
That’s where Claroty comes in. Claroty offers security across sectors of “cyber-physical systems,” such as industrial and operational technology (OT), enterprise, IoT and healthcare. The company’s goal is to cover a broad range of assets within OT and IoT.
“Historically, critical infrastructure organizations’ default approach to securing cyber-physical systems has been implementing highly specialized tools with deep domain expertise in specific devices from specific verticals,” Claroty CEO Yaniv Vardi said in an email to Built In. “These tools may be effective at securing their respective devices, but what about other devices?”
On Wednesday, the cybersecurity company raised $400 million in a Series E funding round which was co-led by new investor SoftBank Vision Fund 2, as well as existing investors Schneider Electric and Bessemer Venture Partners. In addition to the funding round, Claroty announced it entered into an agreement to acquire healthcare IoT security startup Medigate.
Medigate is a New York-based tech company that offers healthcare device security.
“Joining forces with Medigate enables us to extend the reach of the Claroty platform to cover the broadest possible spectrum of customers’ most critical assets, not only across their industrial environments but also healthcare and enterprise environments — i.e. the extended IoT (XIoT),” Vardi said in the email. “From traditional OT devices, such as PLCs and HMIs, to medical devices, such as MRI machines, to enterprise IoT devices, such as smart security cameras and temperature sensors, the XIoT encompasses an ever-expanding range of connected assets that Claroty is now uniquely positioned to secure.”
According to VentureBeat, Claroty has raised a total of $635 million to date, including a $140 million round last June and a $60 million round in June of 2018. The Series E round will be used toward the acquisition of Medigate, according to the company. Financial terms about the acquisition have not been disclosed.
While the acquisition is underway, Claroty currently has multiple positions open either remotely or based in NYC.
