Total amount raised
$266 Millions
Latest funding date
03/01/2024
Location
Nozomi Networks has successfully raised significant funding over multiple rounds, establishing itself as a key player in the OT and IoT cybersecurity space. The company's platform offers advanced solutions for asset intelligence, threat detection, and AI-driven insights.
Keep reading to explore the intricacies of Nozomi Networks' fundraising journey and the investors backing this innovative platform.
What Is Nozomi Networks?
Founded in 2013, Nozomi Networks is a leader in cybersecurity solutions for Operational Technology (OT) and Internet of Things (IoT) environments. The company focuses on delivering asset intelligence, threat detection, and AI-driven insights to keep critical infrastructure cyber resilient.
Based in San Francisco, Nozomi Networks was co-founded by Andrea Carcano and Moreno Carullo. The company has grown significantly, although the exact number of employees is not specified.
Nozomi Networks offers a range of products and services designed to protect OT and IoT environments across various industries, ensuring robust security and operational efficiency.
How Much Funding Has Nozomi Networks Raised?
- Series A
- Amount Raised: $7.5M
- Date: October 2016
- Lead Investors: Lux Capital, Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance their cybersecurity solutions for OT and IoT environments.
- Series B
- Amount Raised: $15M
- Date: January 2018
- Lead Investors: Energize Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their operations and expand their market reach.
- Series C
- Amount Raised: $30M
- Date: September 2018
- Lead Investors: Energize Capital, Lux Capital, Planven Entrepreneur Ventures, THI Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their product offerings and enhance their cybersecurity solutions.
- Grant
- Date: March 2019
- Lead Investors: BloombergNEF
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development in cybersecurity.
- Series D
- Amount Raised: $100M
- Date: August 2021
- Lead Investors: Triangle Peak Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale product development and enhance their go-to-market strategy.
- Series E
- Amount Raised: $100M
- Date: March 2024
- Lead Investors: Mitsubishi Electric, Schneider Electric
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expedite the development of innovative cyber defenses and facilitate cost-efficient global market expansion.
Total Amount Raised: $252M. Current Valuation: Not publicly disclosed.
Key Investors
- Mitsubishi Electric
- Details: Mitsubishi Electric is a global leader in digital manufacturing, electronics, and electrical equipment. The company is known for its innovative solutions in industrial automation and energy management.
- Investment Focus Areas: Digital manufacturing, electronics, industrial automation.
- Notable Investments: Various investments in automation, energy management, and digital manufacturing technologies.
- Schneider Electric
- Details: Schneider Electric specializes in energy management and automation solutions. The company aims to make energy safe, reliable, efficient, and sustainable.
- Investment Focus Areas: Digital automation, energy management, industrial automation.
- Notable Investments: Investments in energy management solutions, automation technologies, and smart grid solutions.
- Honeywell
- Details: Honeywell is a multinational conglomerate that produces commercial and consumer products, engineering services, and aerospace systems. The company focuses on creating solutions that improve quality of life.
- Investment Focus Areas: Aerospace, building technologies, performance materials, safety and productivity solutions.
- Notable Investments: Investments in aerospace technologies, building automation, and industrial cybersecurity.
- Johnson Controls
- Details: Johnson Controls is a global diversified technology and multi-industrial leader. The company serves a wide range of customers in more than 150 countries.
- Investment Focus Areas: Building technologies, energy solutions, integrated infrastructure.
- Notable Investments: Investments in building automation, energy efficiency solutions, and smart building technologies.
- Activate Capital
- Details: Activate Capital is a venture capital firm focused on transformative companies in the energy, transportation, and industrial sectors. The firm aims to support sustainable and innovative solutions.
- Investment Focus Areas: Energy, transportation, industrial innovation.
- Notable Investments: Investments in clean energy technologies and sustainable infrastructure.
What's Next for Nozomi Networks?
Nozomi Networks stands at the cusp of significant growth opportunities, driven by the escalating demand for robust cybersecurity solutions in industrial and critical infrastructure sectors. With over 105 million devices protected and a fivefold increase in annual recurring revenue since 2021, the company is well-positioned to expand its market presence globally and enhance its product development efforts.
Future fundraising opportunities appear promising, given the successful $100 million Series E round and the involvement of high-profile investors like Mitsubishi Electric and Schneider Electric. This financial backing could pave the way for additional investment rounds or strategic acquisitions, further bolstering Nozomi Networks' capabilities and market reach.
However, the company faces challenges such as navigating the complexities of heterogeneous environments and staying ahead of evolving cyber threats. Ensuring interoperability across various systems and vendors will be crucial as Nozomi Networks continues to innovate and expand its cybersecurity solutions.
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