The American start-up Dragos, positioned in the security of industrial control systems and operational technologies, raised 200 million dollars in its funding round (series D) in which HPE and Rockwell Automation notably participated. Its valuation reaches 1.7 billion dollars.
Industrial control systems have been prime targets for cyber attackers for many years. Time passes but the cyber-risks are still there as shown by the exploits of vulnerabilities that affected millions of devices in the heart of this summer. Not to mention the ransomware attacks that hit Colonial Pipeline and JBS in May and June. Among the many players in the sector specializing in their security, the American start-up Dragos located in Hanover (Maryland) which has just given itself the means to ramp up.
The company thus managed to raise $200 million in a final funding round (Series D) led by Koch Diruptive Technologies, the financial arm of the giant Koch Industries ($115 billion in revenue in 2019). The BlackRock fund also participated alongside HPE and Rockwell Automation in particular.
An expansion in Europe that begins in the United Kingdom
These funds should be used to accelerate the group’s global expansion and to support the development of its customers in buoyant industrial markets (energy, pharmaceuticals, food, water, manufacturing, etc.). Especially in UK, Australia, New Zealand and Gulf countries. Since its creation in 2016, Dragos has managed to raise nearly $365 million. Its valuation has now reached $1.7 billion.
“The risks lie not only in cyberattacks, although these are becoming more and more numerous and aggressive, but also in preserving the integrity of information relating to ICS/OT environments in order to maintain resilience at a time when global industrial automation infrastructures and environments are becoming increasingly connected and complex,” said Robert Lee, CEO of Dragos.