Nozomi Networks raises US$100M to scale up global cyber defence

Nozomi Networks, which has headquarters in the United States and in Switzerland, has secured US$100 million in fresh investment through their latest funding round, to help accelerate innovative cyber defences and expand cost-efficient go-to-market expansion globally. 

This Series E round includes investments from Mitsubishi Electric and Schneider Electric. 

They join a growing list of OT original equipment manufacturers (OEMs) who have invested in Nozomi Networks, including prior investors Activate Capital, Energize Capital, Forward Investments, GGV Capital US, Honeywell Ventures, In-Q-Tel, Johnson Controls, Keysight Technologies, Lux Capital, Planven Investments SA, Samsung, Porsche Ventures, Telefónica Ventures, and Triangle Peak Partners.

“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 around the world,” said Capdevielle.

The company will use this latest investment to help scale product development efforts as well as its go-to-market approach globally. 

Nozomi Networks said that, with criminal and nation-state cyber threats to industrial and critical infrastructure on the rise, the need for its solutions has never been greater.

At the same time, recent consolidation in the OT and IoT security space is driving a new need for full-featured solutions that aren’t limited to single-vendor support, but rather are able to holistically address the cybersecurity requirements of the vast majority of industrial and critical infrastructure organisations that must protect complex, multi-vendor environments.

“This investment speaks to ensuring the market has access to robust cybersecurity solutions that can scale without compromise across heterogeneous industrial and critical infrastructure environments and reinforces the importance of interoperability across systems and vendors,” said Barbara Frei-Spreiter, EVP of industrial automation at Schneider Electric. 

Satoshi Takeda, chief digital officer at Mitsubishi Electric, said that Nozomi Networks’ R&D model and ability to innovate and scale quickly sets them apart.