Rockwell invests in New York startup

Claroty raises $60 million for industrial cybersecurity platform

Rockwell Automation
Rockwell Automation's Milwaukee headquarters.

Milwaukee-based Rockwell Automation Inc. has invested in a $60 million series B funding round for startup Claroty.

Rockwell Automation
Rockwell Automation’s Milwaukee headquarters.

New York-based Claroty developed a cybersecurity platform for industrial control networks. The funding round was led by Temasek, and in addition to Rockwell, also included Aster Capital, Next47, Envision Ventures, Tekfen Ventures, and follow-on investors Bessemer Venture Partners, Team8, Innovation Endeavors and ICV. Claroty, founded in 2014, has now raised a total of $93 million.

Claroty’s customers have installed its products at production facilities worldwide in the electric utilities, oil and gas, chemical, water, manufacturing, food and beverage, mining and real estate sectors. The company has experienced rapid growth as industrial firms connect their industrial automation systems to networks and expose their processes to risk from those seeking information about their processes or plotting ransomware attacks.

“Our unparalleled investor syndicate, which includes some of the most important industrial companies in the world, is a ringing endorsement of Claroty’s technology and the progress our team has made,” said Amir Zilberstein, co-founder and chief executive officer of Claroty. “Our mission is to protect the most critical networks on the planet and our comprehensive platform provides our customers with the capabilities they need to accomplish this vitally important task.”

Rockwell, a global industrial automation and information company, said it invested in Claroty because the startup helps in its efforts to make its products as secure as possible. The Milwaukee corporation did not take an equity stake in Claroty, a spokesman said.

“Protecting the critical automation systems our customers operate against cyberattacks remains a top priority for the company,” said Frank Kulaszewicz, senior vice president of architecture and software at Rockwell. “Claroty has been a partner since 2016 and their advanced technology is a key element of our real-time threat detection and monitoring service. Our investment in Claroty is a logical extension of our ongoing strategic partnership.”

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Molly Dill, former BizTimes Milwaukee managing editor.

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