Israeli industrial cybersecurity startup SCADAfence has secured $10 million in funding through a recently announced Series A round.
The Tel Aviv-based company explains that it helps industrial network operators bridge the cybersecurity gap that comes when connecting operational technology (OT) and IT networks to ensure operational continuity and the security of valuable assets.
SCADAfence’s solutions provide visibility of day-to-day operations, detection of malicious cyber-attacks as well as non-malicious operational threats, and risk management tools.
According to the company, the funding will help support expansion of its R&D center in Tel-Aviv and global business development teams to meet growing demand across North America, Asia and Europe.
SCADAFence’s customers include Global Fortune 500 companies in the automotive, pharmaceutical, chemical and energy industries.
Investors in the Series A round include JVP, NexStar Partners, 31Ventures Global Innovation Fund, GB-VI Growth Fund Investment Limited Partnership managed by Global Brain, iAngels and DS Strategic Partners.
SCADAFence is one of several security startups targeting the industrial space that have recently raised funding. Others include Dragos, Indegy, Bayshore Networks, CyberX, Claroty, and Nozomi Networks.Veteran industrial software firm PAS raised $40 million in April 2017. Darktrace, which has an offering targeted to the industrial sector, recently raised $75 million at a valuation of $825 million. All of these companies have participated in SecurityWeek’s ICS Cyber Security Conference series.
