Israeli industrial cybersecurity company SCADAfence raises $12 million
Summary
The company, which provides cyber solutions for Operational Technology (OT) and Internet of Things (IoT) environments, said it had tripled both its revenue and customer base over the last year and is aiming to use the new funding to further accelerate its expanding global customer base across a diverse set of industries – including manufacturing, water treatment, critical infrastructure, oil and gas, pharmaceuticals, chemicals, and building management systems (BMS). Some of the company’s existing customers include Honda, Murata, Vestel, Mitsui Fudosan, Taro Pharmaceuticals, and numerous other Fortune 500 companies in the U.S. “This investment comes at a very opportune time for our industry as the demand for OT and IoT security is at an all-time high. "Attacks on Operation Technology (OT) networks endanger countries and civilians alike, as they pose the soft underbelly for all critical infrastructure in the fields of energy, water supply, transportation and all aspects of our daily operations and basic necessities," said Shai Schiller, JVP General Partner. Rapid7s partnership exposes SCADAfence to a substantial salesforce, dozens of channels and thousands of strategic customers. “Cyber risks to industrial control systems are rapidly increasing, as is the market demand for holistic, risk-based solutions that provide visibility across IT and OT environments,” added Conan Reidy, Senior Vice President of Corporate Development and Technology Alliances at Rapid7.