Cybersecurity of industrial control systems: Dragos raises 200 million dollars

The German start-up Dragos positioned in the security of industrial control systems and operational technologies raised $ 200 million in its round of financing (series D) in which HPE and Rockwell Automation participated in a notable way. Its valuation reached 1.7 billion dollars.

Industrial control systems have been the main targets of cyber attackers for many years. Time passes but the cyber risks are still there, as evidenced by the exploits of vulnerabilities that hit millions of devices in the heart of this summer. Not to mention the ransomware attacks that hit Colonial Pipeline and JBS in May and June. Among the many players in the sector who specialize in its security, is the American start-up located in Hanover (Maryland), which has just given itself the means to progress.

In doing so, the company managed to raise $ 200 million in a final round of funding (series D) led by Koch Diruptive Technologies, the financial arm of the giant Koch Industries ($ 115 billion in revenue in 2019). The BlackRock fund also participated along with HPE and Rockwell Automation in particular.

An expansion in Europe that begins in the United Kingdom

These funds should be used to accelerate the overall expansion of the group and to support the development of its clients in promising industrial markets (energy, pharmaceuticals, food, water, manufacturing, etc.). Particularly in the UK, Australia, New Zealand, and the Gulf countries. Since its inception in 2016, Dragos has managed to raise nearly $ 365 million. Its valuation now reaches 1.7 billion dollars.

“The risks are not only in cyberattacks, although they are increasingly numerous and aggressive, but also in preserving the integrity of information related to ICS / OT environments to maintain resilience as infrastructures and environments of Global industrial automation is becoming increasingly connected and complex, ”said Robert Lee, CEO of Dragos.

Vince Fernandez

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