Nozomi Networks Gets $30m More For Dominating Industrial Cyber Security
Lux Capital co-led Series A of Nozomi Networks in October 2016, and has been a major investor in every round since. Company’s growth and commercial traction since then has been nothing short of outstanding, and I am proud of my partnership with Edgard, Andrea, Morena and the rest of the team towards success we have seen to date. So its not a surprise that Lux is doubling down in a $30M round of financing that Nozomi is announcing today. Our US co-investors include GGV and Energize VC. Our significant European partners and investors include Planven and THI.
Nozomi Networks is the world leader in industrial cyber security solutions. If you don’t fully understand what that means, consider that our critical infrastructure, utilities, power plants, oil and gas facilities, manufacturing plants, mining, entertainment complexes — basically any place where complex and large electromechanical systems are used — are all potentially under threat from external and internal cyber security attacks. And all our traditional IT security solutions are unable to deal with OT (operational technology) attacks — thus the need for industrial cyber security solutions. This is a very LARGE, and very GLOBAL market.
Nozomi has been a tour de force in this space in the last 2 years. Nozomi’s suite of products provide operational visibility and cyber security solutions to Fortune 500 customers in 5 continents. Company has grown to service a global ‘who’s who’ list of industrial clients at more than 1000 installations, supporting more than quarter million industrial control devices. From global hydro-generation plants to gas substations in Latin America, and electrical substations in Middle East to refineries around the globe, Nozomi has satisfied clients with production hardware/software deployments across the board. Customers love Nozomi’s solutions, company has a higher than 90% POC win rate, and outlook for 2019 looks very promising given the very large number of POC installations already in place.
The rapid growth of customer base, revenues, TAM, and commercial partnerships (such as the ones recently signed with Atos, Cisco, IBM etc) has provide clear signs that the market has chosen Nozomi as leader. This new investment shortly follows a previous round of financing because company is now planning not just to win, but to dominate the market. The threat that Nozomi’s target customers face is not going away, and the range of products that they require to quickly identify, diagnose, and manage such threats on an active basis can only be serviced by a company as innovative and nimble as Nozomi.
Nozomi is looking to hire the best of the best, with more than 30 job openings advertised as of my last check. It is building teams globally with a concentration in the US and Switzerland. Company is innovating in real time asset discovery, active asset monitoring, and use of ML/AI for deep asset inspection. If you are looking for hard technical challenges, find working at the intersection of cyber security and industrial infrastructure interesting, and thrive highly diverse/global setting, then Nozomi might be the right place for you. Nozomi’s team, its customers, and investors are moving forward towards building a category-defining, mission-oriented, innovative company.