March 6, 2024 at 11:27AM
Claroty, a cyber-physical systems security company, has raised $100 million in strategic growth funding, making its total investment $735 million. Participants in the latest funding round include Delta-v Capital, AB Private Credit Investors, Standard Investments, Toshiba Digital Solutions, Rockwell Automation, and Silicon Valley Bank. Claroty plans to use the funding to enhance solutions and technologies and expand in various regions. The valuation of the company is reportedly at $2.5 billion, up from $2 billion in 2021. Claroty’s platform provides security solutions for extended IoT and is used by organizations in various sectors, claiming 20% of Fortune 100 companies as users and exceeding $100 million in ARR in 2023.
Based on the provided meeting notes, here are the key takeaways:
1. Claroty, a cyber-physical systems security company, recently secured $100 million in strategic growth funding, bringing the company’s total investment to $735 million.
2. Participants in the latest funding round included Delta-v Capital, AB Private Credit Investors at AllianceBernstein, Standard Investments, Toshiba Digital Solutions, SE Ventures, Rockwell Automation, and Silicon Valley Bank.
3. The funding will be utilized to enhance solutions and technologies, expand operations in the Americas, EMEA, and APAC regions, and pursue strategic partnerships.
4. While previous valuations of Claroty were reported to be $1 billion and $2 billion in 2021, the company declined to confirm these figures. The latest report from Israeli news website Globes suggests the valuation has increased to $2.5 billion, though Claroty has not confirmed the exact valuation.
5. Claroty focuses on protecting extended IoT (XIoT) systems, including OT, IoT, Internet of Medical Things (IoMT), and building management systems (BMS), offering visibility, risk and vulnerability management, secure remote access, and threat detection capabilities.
6. The company claims usage by 20% of Fortune 100 companies and surpassed $100 million in ARR in 2023.
These key points highlight the recent funding, company valuation, and focus areas of Claroty.