Dragos, Inc one of the world’s top ICS security vendors has just announced it has raised a record-breaking $200 million in Series D funding at a valuation of $1.7 billion. The investments is the largest funding round and the highest valuation achieved by an OT cybersecurity company. It will help accelerate the company’s global expansion, with Dragos recently announcing new plans to grow the company within the UK’s industrial market.
The funding round was led by Koch Disruptive Technologies, an investment arm of Koch Industries, and funds and accounts managed by BlackRock, a leading global asset manager. Investors include Emerson, Hewlett Packard Enterprise, AllegisCyber, Canaan, DataTribe, Energy Impact Partners, National Grid Partners, Schweitzer Engineering Labs, Global Reserve Group, and Rockwell Automation.
“Executives around the world from corporate leadership to government officials have continued to note the criticality of protecting OT and the need to do so with OT specific approaches,” said Robert M. Lee, Chief Executive Officer and Co-Founder of Dragos, Inc. “The risks are not just in cyberattacks, though those are becoming more numerous and aggressive, but also in ensuring the appropriate insights into ICS/OT environments to maintain resilience as our world’s infrastructures and industrial automation environments become more connected and more complex. The Series D represents further validation on the importance of our mission but is only possible due to our customers and partners. Their tireless efforts to secure our infrastructure too often goes underappreciated.”
The Series D funding will accelerate Dragos expansion to make ICS/OT cybersecurity more accessible around the world and will bolster the company’s support for ICS/OT practitioner-oriented events, education, and community networking opportunities in new verticals and regions.