With deep roots in software solutions for process safety and asset reliability for industrial firms, Houston, TX-based PAS announced this week that it has taken a $40 Million investment that will be used to fuel its Industrial control system (ICS) cybersecurity business.
While many new startups have emerged in the industrial cybersecurity space in recent years, PAS has been around for 23 years and says its solutions are deployed in more than 1,100 facilities globally in more than 70 countries.
Previously known as Plant Automation Services, Inc. (“PAS”), the company has reorganized under the new corporate name PAS Global, and will use the investment to expand its security solutions portfolio and support global growth.
Founded by Eddie Habibi, who currently serves as CEO, the company has not taken any outside funding before.
“PAS has a 23-year tradition of making industrial process facilities safer and more reliable,” Habibi said in a statement. “Our deep expertise in control systems and production-centric approach to securing ICS give us a formidable competitive advantage.”
The company helps customers comply with regulatory standards including NERC CIP, NIST, and IEC 62443, with offerings including ICS cybersecurity, automation asset management, IPL assurance, alarm management, high performance HMI, boundary management, and control loop performance optimization.
“This funding round will expand PAS sales and marketing across its global offices as well as increase research and development for Cyber Integrity, its flagship cybersecurity software product,” the company said. “Cyber Integrity protects critical infrastructure from risks associated with rising industrial internet of things (IoT) adoption, malicious cyber attacks, and insider threats.”
The $40 million growth investment came from investment firm Tinicum, a private investment partnership focused on late stage investments in manufacturing, energy, technology, media, and infrastructure.