The cybersecurity industry has been booming lately as organizations have undergone an increase in ransomware and malware attacks during our worldwide digital transition. Companies including RiskIQ, Claroty and Transmit Security have all pulled in recent funding as the cybersecurity sector continues to grow. Adding itself to the list is Nozomi Networks with its latest pre-IPO round of venture capital.
On Monday, Nozomi announced it raised a $100 million Series D round led by Triangle Peak Partners. Working in the areas of operational technology, IoT and information technology, the company’s platform works to help organizations accelerate their security and digital transformations.
Its software provides enterprise customers with network visibility, threat detection and operational insights, according to the company. Nozomi currently serves customers across a variety of industries including automotive, pharmaceutical, federal government and mining.
“Nozomi Networks’ use of machine learning enables them to provide advanced device identification, behavioral analysis, and anomaly detection capabilities through passive monitoring of IoT and OT networks,” Brinda Jadeja of Nozomi investor In-Q-Tel said in a statement. “This level of visibility is essential for protecting critical infrastructure devices and networks. Their solution is designed to support distributed network architectures and integration with a broad range of security products, making it well suited for deployment into the challenging and diverse operating environments of the U.S. intelligence and defense communities.”
The company has undergone significant growth recently. Nozomi recorded a 110 percent increase in ARR last year and has also doubled the size of its customer base. To date, its tech monitors more than 47,737,000 devices, according to its website, representing a 5,000 percent increase over 2020.
With the fresh funding, the company is planning to invest in scaling its product development efforts, and its go-to-market approach. It’s also investing in building out its team and lists a variety of available roles on its site across engineering, marketing, sales and more.
