Dragos, an industrial cybersecurity company raises $200M in a Series D Round

About the Company

 

Dragos, an industrial cybersecurity company is headquartered in the Washington, DC area and also maintains a regional presence over Canada, New Zealand, Europe, Australia and the Middle East. 

 

The company runs on a mission, shielding the world's critical infrastructure. It scrutinizes and responds to the threats the system poses in the process. Dragos evaluates data sources such as network traffic, protocols, logs, and anomalies which may indicate the presence of malicious activity.

 

Dragon makes use of twenty-nine technology products as well as services including Google Analytics, jQuery, HTML5 and technologies such as SPF, IPhone, and Viewport Meta.

 

The company has raised a total amount of $364.2M in funding over eight rounds. It is mainly funded by fifteen investors, whereas the most recent ones are Global Reserve Group, and National Grid Partners.

 

The Raise

 

On October 28, Dragos declared that it has raised $200M in Series D funding at a $1.7B post-money valuation. If estimated till December 8, 2020, its post-money valuation ranged from $100M and $500M.

 

The company now envisions to extend worldwide, and in the process of doing so, Dragos shall extend its hands towards customers particularly in electric, chemical, pharmaceutical, oil, manufacturing and other industries.

 

CEO and cofounder Robert M. Lee observed the dire need to safeguard operational technology (OT) systems with OT specified techniques. 

 

The concerns are not just restricted to cyberattacks but it must be ensured that the "world's infrastructures" and the business decorum is maintained, keeping in account of the "appropriate insights" to promote flexibility and reliability. 

 

OT manages the surveillance and control of devices and work management complexities in industrial sectors. They are often operationalized to exercise control over engines, conveyors, and machineries maintain the rate of indicated values expressed via devices.

 

As aforementioned, the estimated values are of temperature, pressure, and others in order to shield the systems from conditions that could not be regulated, if the environment is monitored. 

 

And therefore, the series D round demarcated the significance of the support from the ends of customers and partners.

 

As reported by VentureBeat, Dragos delivers playbooks to assist cybersecurity groups whenever cybersecurity inspections are on, and also assures that the network can identify "supply chain risks", vulnerabilities, and cyber threats that are in need of detection along with amended.

 

(Must Check: IoT Security Getting Exposed For Multiple Vulnerabilities)

 

A participant in this funding, Rachael Conrad (manager of Rockwell Automation) clearly stated that the investment highlights their objective of regarding "industrial cybersecurity" with more seriousness. 

 

A source mentioned that ransomware and internet of things (IoT) touched 350% and 600% respectively in 2017, and then, it was predicted that the costs would transcend $11.5B back in 2019, but the  situation came to the end of the tunnel, with an increased rate of cyberattacks on companies, governments and individuals. 

 

(Also Check: Cybersecurity in the Internet of Things (IoT) World and its threats- Ransomware Attacks)

 

Conclusively, Conrad ensured that the objective will enable the customers to safeguard their "operational environments"-- the customers who are meaning to transform their industrial points-- and also exercise their respective digital transformation goals.