Congratulations Nozomi Networks on $30M Series C Funding

I’m very excited to announce that GGV Capital portfolio company Nozomi Networks has announced a $30M Series C financing. GGV led Nozomi’s Series A financing, along with our co-investor Lux Capital, two years ago in October 2016, and we also participated in the company’s Series B financing in January 2018.

I took a selfie with the Nozomi team at a recent all hands

The progress the company has made over the past two years is nothing short of remarkable. Nozomi has grown from a 10 person tiger team with innovative industrial cyber security products at the time of our Series A investment to a global company with a strong 60 person team and a rapidly expanding, highly satisfied global customer base that has deployed Nozomi’s products in production across more than 1,000 installations supporting more than 300,000 industrial control devices.

Industry heavyweights continue to take notice and have forged deep ties with Nozomi. Atos, Cisco and IBM, to name a few, have all recently selected Nozomi as their ICS security partner in the market. Example customers Nozomi has signed and deployed in the past few quarters include one with 500+ hydro generation facilities across multiple continents, one with 400+ gas substations in Latin America, one with 300+ electrical substations in the Middle East and one with more than 20+ refineries around the globe.

The market continues to evolve rapidly due to escalating threats, and as a result, Nozomi has over 75 Proof of Concept (PoCs) installations underway. This bodes very well for the future because the company sports an impressive 90% PoC win rate. Nozomi’s ease-of-deployment, asset discovery and precision ICS threat detection all contribute to the extremely high customer satisfaction the company enjoys.

Nozomi’s product innovation continues at a rapid pace. The company’s recently announced active security solution complements their passive analysis products. As the market matures, Nozomi’s customers are increasingly looking to the company not only for passive network monitoring and asset discovery, but also for active monitoring to enable deep asset visibility. Nozomi’s machine learning based approach has enabled this innovation and keeps the company way out in front of its competitors.

The risks to critical infrastructure and industrial control systems have never been more dire. Nozomi’s superior products, customer base and know how position the company for a very bright future!

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