Nozomi Networks, Inc. recently announced a $100 million Series E funding round to help accelerate the development of cyber defense products and services. This latest round includes investments from Mitsubishi Electric, a global leader in digital manufacturing, electronics and electrical equipment, and Schneider Electric, a global leader in digital automation and energy management. They join a growing list of OT original equipment manufacturers who have invested in Nozomi Networks, including previous investors Honeywell and Johnson Controls.
“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,” said Edgard Capdevielle, President and CEO of Nozomi Networks. “This investment clearly underscores the need and support for OEM-agnostic security solutions in light of today’s escalating attacks against critical infrastructure.”
The company will use this latest investment to help scale product development efforts as well as its go-to-market approach. The company cited the rise of criminal and nation-state cyber threats to industrial and critical infrastructure, and consolidation in the OT and IoT security space as key drivers in developing solutions that are not limited to single-vendor support.
“With the increasing risk of cyber threats facing critical infrastructure owners everywhere, now is not the time to compromise on cybersecurity,” said 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,” added Satoshi Takeda, Chief Digital Officer, Mitsubishi Electric.
Nozomi Networks customers benefit from the OT and IoT OEM community's support, which includes existing partnerships with ABB, Emerson, GE Vernova (formerly GE Power and GE Renewable Energy), Hitachi Energy, Honeywell, Johnson Controls, Mitsubishi Electric, Mitsubishi Heavy Industries, Schneider Electric, Siemens, and Yokogawa.
This round is the latest in a series of milestones for the company, including:
- A decade in OT and IoT cybersecurity – including the recent launch of the industry’s first multi-spectrum wireless security sensor.
- More than 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.
- More than 2,000 Certified Nozomi Networks Engineers worldwide.
