Nozomi Networks secures funding from Mitsubishi and Schneider Electric


Monday, 18 March, 2024

Nozomi Networks secures funding from Mitsubishi and Schneider Electric

Nozomi Networks has announced a US$100 million Series E funding round to help accelerate cyber defences and expand globally. This latest round includes investments from Mitsubishi Electric and Schneider Electric, joining a growing list of OT OEMs that have invested in Nozomi Networks, including previous investors Honeywell and Johnson Controls.

“As we meet with customers around the world, the reality is that they operate highly heterogeneous environments and are looking for a security platform that can effectively defend those environments,” said Edgard Capdevielle, President and CEO of Nozomi Networks. “This investment clearly underscores the need and support for OEM-agnostic security solutions in light of today’s escalating attacks against critical infrastructure around the world.”

The company will use this latest investment to help scale product development efforts as well as its go-to-market approach globally. With criminal and nation-state cyber threats to industrial and critical infrastructure on the rise, the need for such solutions has never been greater. At the same time, recent consolidation in the OT and IoT security space is driving a new need for full-featured solutions that aren’t limited to single-vendor support, but rather are able to holistically address the cybersecurity requirements of the vast majority of industrial and critical infrastructure organisations that must protect complex, multi-vendor environments.

“With the increasing risk of cyber threats facing critical infrastructure owners everywhere, now is not the time to compromise on cybersecurity,” said Barbara Frei-Spreiter, Executive Vice President of Industrial Automation, Schneider Electric. “As a partner of Nozomi Networks, we have collaborated over the years to provide customers with cybersecurity solutions and services that help them to control, prevent and mitigate risks to their operations. This investment speaks to ensuring the market has access to robust cybersecurity solutions that can scale without compromise across heterogeneous industrial and critical infrastructure environments and reinforces the importance of interoperability across systems and vendors.”

“There’s never been a more important time to invest in critical infrastructure cybersecurity, and Nozomi Networks stands out globally as a leading supplier in that segment,” said Satoshi Takeda, Chief Digital Officer, Mitsubishi Electric. “Nozomi Networks’ unique R&D model and ability to innovate and scale quickly sets them apart. Customers and partners all rely on Nozomi Networks’ expertise and constantly advancing technology to secure the industrial infrastructure that runs the world.”

Image credit: iStock.com/Traitov

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