Claroty Secures $150M Series F at $3B Valuation for Industrial Cybersecurity Platform

NEW YORK: Industrial cybersecurity provider Claroty secured $150 million in Series F funding led by Golub Growth, with up to $50 million additional participation from existing investors, boosting the company’s valuation 80 percent to $3 billion since its March 2024 financing round.

The funding will accelerate global expansion through organic growth and acquisitions as Claroty builds what it describes as the industry’s most comprehensive cyber-physical systems protection platform for critical infrastructure.

While talking to Calcalist, CEO Yaniv Vardi said, “The market is ‘red hot’ driven by surging cyberattacks on hospitals, manufacturing facilities, and industrial companies. The company’s annual revenue has reached the hundreds of millions of dollars and Claroty expects to achieve profitability in the near term.”

Claroty’s platform secures cyber-physical systems, environments where digital networks connect with physical operations like factory production lines, utilities, and medical equipment. The company serves 24 of the Fortune 100 organizations and is deployed across thousands of sites globally.

Traditional cybersecurity monitoring faces unique challenges in industrial settings where sensitive systems are isolated from corporate networks. Claroty’s Project File Analysis feature collects cybersecurity data from isolated systems]] that cannot be queried directly due to network segmentation.

For network-accessible industrial hardware, Claroty’s software collects telemetry using queries that mimic normal inbound traffic the device expects, reducing the risk of bugs caused by unfamiliar requests.

Recent milestones include launching the CPS Library, a first-of-its-kind AI-powered asset catalog developed with Schneider Electric and Rockwell Automation that enhances visibility and accuracy in tracking asset specifications. The company appointed former Ford AI chief Gil Gur Arie as Chief Product Officer.

According to Techjockey’s cybersecurity analysis, ransomware and advanced cyber attacks are increasingly disrupting real-world operations, with incidents affecting healthcare systems, utilities, and other critical services, highlighting how digital attacks can directly impact physical infrastructure.

These incidents reflect the growing risk associated with cyber-physical systems (CPS), where cyber threats originating in digital networks can directly affect physical assets such as power grids, pipelines, water utilities, and industrial operations.

Claroty employs approximately 750 people, including 350 in Israel, with additional staff in New York, Europe, Asia-Pacific, and Latin America.