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Nozomi Networks Raises $100 Million to Expand Industrial Cybersecurity Business

Series E funding of $100 million includes investments from Mitsubishi Electric and Schneider Electric.

Nozomi Networks Funding

Industrial and IoT cybersecurity firm Nozomi Networks announced a $100 million Series E funding round on Wednesday, bringing the total amount raised by the company to more than $250 million.

This latest funding includes investments from Mitsubishi Electric and Schneider Electric, who join other OT equipment manufacturers (OEMs) who previously invested in Nozomi, including Honeywell and Johnson Controls.

Nozomi says the additional investment will help scale product development efforts and support its go-to-market approach globally.

The company did not disclose any plans for a potential IPO, but previously told SecurityWeek that its funding, combined with customer revenue, gives them the “optionality to IPO.”

Nozomi previously raised $100 million through a Series D funding round in August 2021, and several other smaller rounds.

“As we meet with customers around the world, the reality is that they operate highly heterogeneous environments and are looking for a security platform that can effectively defend those environments,” Edgard Capdevielle, President and CEO of Nozomi Network, said in a statement. “This investment clearly underscores the need and support for OEM-agnostic security solutions in light of today’s escalating attacks against critical infrastructure around the world.”

Nozomi boasts that its technology protects more than 105 million OT, IoT and IT devices worldwide, across 12,000+ installations.

Earlier this year, Nozomi unveiled Guardian Air, a security sensor designed to help organizations detect wireless threats in OT and IoT environments.

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Other investors in Nozomi Networks include Activate Capital, Energize Capital, Forward Investments, GGV Capital U.S., Honeywell Ventures, In-Q-Tel, Johnson Controls, Keysight Technologies, Lux Capital, Planven Investments SA, Samsung, Porsche Ventures, Telefónica Ventures, and Triangle Peak Partners.

Written By

For more than 15 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.

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