Standard Industries' 40 North unit co-led a series D round that included LG, Schneider Electric, Rockwell Automation and Siemens at a reported $1bn-plus valuation.
US-based industrial cybersecurity technology producer Claroty raised $140m yesterday in a series D round co-led by 40 North, the investment subsidiary of industrial group Standard Industries.
Venture capital firm Bessemer Venture Partners (BVP)’s Century II fund co-led the round, which included consumer electronics provider LG, manufacturing technology producer Rockwell Automation, industrial technology maker Siemens and energy and automation equipment manufacturer Schneider Electric.
VC group Team8 also participated in the round, as did investment manager I Squared Capital’s ISQ Global InfraTech Fund and all the company’s existing investors.
Claroty provides cybersecurity software that helps industrial companies protect their internet-of-things and operational technology assets. Its platform includes solutions for threat detection, risk management, secure remote access and visibility.
The round likely valued the company at over $1bn, sources told Globes, and the proceeds will support its expansion into new regions and strategic areas in addition to helping it grow headcount.
Claroty’s total funding now stands at $235m. It had emerged from stealth in 2016 with $32m of funding from Mitsui, BVP, Innovation Endeavors, Marker, ICV and Red Dot Capital Partners.
Singaporean state-owned investment firm Temasek led a $60m series B round for the company in 2018 that included Tekfen Ventures, on behalf of construction and industrial group Tefken, as well as Rockwell Automation, Siemens’ Next47 unit, Aster, Envision Ventures, BVP, Team8, Innovation Endeavors and ICV Capital Partners.