Claroty finds series B clarity

Temasek, Rockwell Automation, Aster Capital and Next47 participated in a $60m series B round that brought Claroty’s total funding to date to $93m.

US-based cybersecurity technology developer Claroty this week obtained $60m in a series B round, which was led by Singaporean state-owned investment firm Temasek.

The round featured industrial automation company Rockwell Automation and Next47, the investment arm of consumer goods company Siemens, as well as multi-corporate venturing firm Aster Capital, Envision Ventures, Tekfen Ventures, Bessemer Venture Partners (BVP), Team8, Innovation Endeavors, and ICV Capital Partners.

Founded in 2014, Claroty has developed a cybersecurity platform to remotely access and monitor industrial networks in sectors such as utilities, oil and gas, mining, real estate and food and beverage.

The money will go towards growing the company’s brand globally, hiring additional sales and customer support staff and accelerating product development.

The company has raised $93m to date, according to its latest press release. The company emerged from stealth in 2016, disclosing $32m in funding from diversified conglomerate Mitsui, BVP, Innovation Endeavors, Marker, ICV and Red Dot Capital Partners.

Aster Capital spun out of industrial group Schneider Electric Ventures, the corporate venturing division of Schneider Electric, in 2010 and attracted equipment provider Alstom and chemicals company Solvay as limited partners.

The firm closed its latest fund at $282m in November 2017, with plastics manufacturer Plastic Omnium joining as an investor. It has approximately $590m under management.

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