• The Claroty platform addresses the specialized needs of industrial infrastructure, focusing on finding vulnerable devices, detecting malware, and providing secure administrator access to industrial hardware over the network.
  • Claroty also concentrates on streamlining the process of linking up with industrial equipment

Recently, an industrial cybersecurity startup, ClarotyLtd., raised USD 100 million in strategic growth financing. The funds will be utilized to enhance its platform’s cyber-physical systems protection, support global expansion efforts, fuel research and development initiatives, and extend existing strategic partnerships.

Established in 2015, Claroty provides an industrial cybersecurity solution that enables organizations to safeguard cyber-physical systems in healthcare, public, industrial, and healthcare settings — in collective, these sectors comprise the “extended internet of things,” as termed by some. While connecting to the existing infrastructure and programs of its clients, the platform offers an extensive selection of industrial cybersecurity controls for risk and vulnerability management, threat detection, and visibility.

The Claroty platform is specifically designed to meet the specialized needs of industrial infrastructure, including factory control systems. It serves three primary functions: locating vulnerable devices, identifying malicious software, and enabling administrators to securely access industrial hardware via the network.

Claroty also concentrates on streamlining the process of connecting to industrial equipment. Within legacy systems, administrators must frequently log in to industrial systems for maintenance tasks such as troubleshooting.

However, access to sensitive systems is frequently cut off from the rest of the network. It requires using a jump server, which serves as a conduit between the high-priority isolated portions and the less sensitive portions of an industrial company’s network. Claroty’s platform eliminates the requirement for a jump server, thus simplifying the process of establishing secure connections to industrial equipment.

By offering a streamlined method for connecting to industrial systems, Claroty has garnered a receptive audience. The company reports collaboration with 20% of the Fortune 100. In 2023, Claroty exceeded USD 100 million in annual recurring revenue, experiencing a remarkable 300% growth in customers since 2020.

The company has formed strategic technology partnerships with various organizations, including CrowdStrike Holdings Inc., ServiceNow Inc., Amazon Web Services Inc., IBM Corp., Rockwell Automation Inc., Schneider Electric SE, NTT Data Corp., and eSentire Inc.

“The past year has brought unprecedented geopolitical, macroeconomic, and regulatory changes that have created new trends and challenges for those charged with protecting the world’s critical infrastructure. With our deep domain expertise, unmatched technological capabilities in our comprehensive platform, and extensive partner ecosystem, Claroty is uniquely equipped to help CPS defenders navigate these changes,” Yaniv Vardi, Chief Executive, said in a statement.

The growth financing round was spearheaded by Delta-v Capital, with participation from AB Private Credit Investors at AllianceBernstein, Standard Investments Ltd., Toshiba Digital Solutions Corp., SE Ventures LLC, Rockwell Automation Inc., and Silicon Valley Bank Inc.

Taking into account the recent funding, Claroty has amassed a total of USD 735 million in funding to date, with previous rounds amounting to USD 400 million in December 2021 and USD 140 million in June 2021.