Security Experts:

Connect with us

Hi, what are you looking for?


Cybersecurity Funding

Industrial Cybersecurity Firm Dragos Raises $110 Million

Industrial cybersecurity firm Dragos announced on Tuesday that it has raised $110 million in a Series C funding round, which brings the total raised by the company to-date to $158 million.

Industrial cybersecurity firm Dragos announced on Tuesday that it has raised $110 million in a Series C funding round, which brings the total raised by the company to-date to $158 million.

Dragos was founded in May 2016 by Robert M. Lee (CEO), Jon Lavender (CTO) and Justin Cavinee (Chief Data Scientist), former members of the U.S. intelligence community who worked on identifying, analyzing and responding to ICS-focused cyberattacks coming from nation-state attackers.

Dragos LogoDragos offers products and services that span ICS/OT asset visibility (the Dragos Platform), ICS-specific Threat Intelligence, and professional services and training.

According to the Hanover, Maryland-based company, the additional cash injection will be used to support overall growth and operations.

“This is a decisive moment in the ICS/OT cybersecurity market, with many powerful drivers coalescing to generate an unprecedented level of market interest and customer demand,” said Robert M. Lee, CEO and Co-Founder of Dragos. “Our Series C funding is an investment by industry, for industry, and will enable us to fully meet this moment for our customers by advancing the innovative technology at the center of our Dragos Platform, expanding our global footprint, and continuing to recruit the world’s most elite team of ICS/OT cybersecurity experts.”

While the amount of the Series C funding is impressive, also is the list of investors from the industrial sector that have jumped on board to be part of the funding.

The Series C round was co-led by National Grid Partners, the investment arm of energy giant National Grid plc; and Koch Disruptive Technologies, the investment arm of manufacturing titan Koch Industries.

Other Series C investors include Saudi Aramco Energy Ventures (SAEV); Hewlett Packard Enterprise (NASDAQ: HPE); and existing investors including Allegis Cyber, Canaan, DataTribe, Energy Impact Partners, and Schweitzer Engineering Labs.

The Series C funding round represents the largest publicly disclosed investment to-date for a company in the industrial cybersecurity sector.


Learn more about threats to industrial systems at SecurityWeek’s ICS Cyber Security Conference and SecurityWeek’s Security Summits virtual event series

Written By

For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

Click to comment

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

CISO Strategy

Cybersecurity-related risk is a top concern, so boards need to know they have the proper oversight in place. Even as first-timers, successful CISOs make...


Otorio has released a free tool that organizations can use to detect and address issues related to DCOM authentication.


Tenable has launched a $25 million venture fund to place bets on early-stage startups in the exposure management space.


Twenty-one cybersecurity-related M&A deals were announced in December 2022.

Cybersecurity Funding

Forward Networks, a company that provides network security and reliability solutions, has raised $50 million from several investors.


Vulnerabilities in GE’s Proficy Historian product could be exploited for espionage and to cause damage and disruption in industrial environments.