Temasek leads $60m round for US-based cybersecurity startup Claroty

Photo: Claroty

New York-headquartered cybersecurity startup Claroty has closed a $60-million Series B funding round led by Singapore’s state investment firm Temasek Holdings.

The round was joined by Rockwell Automation, Schneider Electric-sponsored Aster Capital, Siemens-backed Next47, Envision Ventures, and Tekfen Ventures. Existing investors such as Bessemer Venture Partners, Team8, Innovation Endeavors, and ICV also participated in the round.

The Series B round brings the total external funding raised by Claroty to $93 million.

A company announcement said the funds will be used to grow the brand, extend its sales and customer support reach and for continued product innovation.

“A perimeter defense to cybersecurity in today’s connected world is not enough. An end-to-end approach, with solutions that provide deep visibility into operational technology and industrial control systems, is critical for the security of heavy processing environments,” said Schneider Electric chief digital officer Hervé Coureil.

Rockwell Automation senior vice-president for architecture and software, Frank Kulaszewicz, commented, “Claroty has been a partner since 2016 and their advanced technology is a key element of our real-time threat detection and monitoring service. Our investment in Claroty is a logical extension of our ongoing strategic partnership.”

Founded in 2014, Claroty is a cybersecurity provider for industrial control networks and is the second startup launched by Israel’s Team8 foundry.

The startup is said to have exited stealth mode in late 2016, and has large-scale customers with product installations across six continents in the world in nine market segments including electric utilities, oil and gas, chemical, water, manufacturing, food and beverage, mining, and real estate.

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