Dragos Grabs $110M Series C Round

Dragos, the global leader in cybersecurity for industrial controls systems (ICS)/operational technology (OT) environments, today announced that it has secured $110 million in Series C funding from investors representing some of the world's largest corporations. The round represents the most substantial investment-to-date for a company in the ICS/OT cybersecurity sector.2 The new funding will be used to support an expanding set of global customers across a diversity of industries – including electric, oil & gas, manufacturing, mining, chemicals, and transportation – and to accelerate the next stage of the company's worldwide operations to address the burgeoning market for ICS/OT cybersecurity solutions.

Dragos's Series C funding round is co-led by National Grid Partners, the independent venture investment and innovation arm of National Grid plc., one of the world's largest investor-owned energy companies; and Koch Disruptive Technologies, the investment arm of Koch Industries, one of the world's largest technology companies and manufacturers, which invests in emerging and transformative high-growth technologies. The Series C investment brings the company's total funding to $158 Million, the highest funding level for any start-up in the ICS/OT cybersecurity space. Other Series C investors include Saudi Aramco Energy Ventures (SAEV), a fund of Aramco Ventures, the $1.5 billion venture capital program of Aramco; Hewlett Packard Enterprise (NASDAQ: HPE), the global edge-to-cloud platform as-a-service company; and existing investors including Allegis Cyber, Canaan, DataTribe, Energy Impact Partners, and Schweitzer Engineering Labs.

Dragos codifies the knowledge of our cybersecurity experts into an integrated software platform that provides customers critical visibility into ICS and OT networks so that threats are identified and can be addressed before they become significant events. Our solutions protect organizations across a range of industries, including power and water utilities, energy, and manufacturing, and are optimized for emerging applications like the Industrial Internet of Things (IIOT).