Claroty rakes in $400m for its Series E

Claroty, a CyberTech solution protecting IoT devices, has secured $400m in its Series E funding round.

SoftBank Vision Fund 2 served as the lead investor, with commitments also coming from existing investors Bessemer Venture Partners and Schneider Electric.  Additionally, capital was supplied by ISTARI – a fellow CyberTech company – Team8, and Standard Investments.

Claroty can integrate with existing infrastructure and provides companies with a full range of controls for visibility, risk and vulnerability management, threat detection, and secure remote access.

In line with the Series E deal, Yossi Cohen, head of SoftBank’s investment activities in Israel, will join Claroty’s board of directors.

Cohen said, “As digital transformation initiatives drive the essential physical systems that we rely on for even the most basic human needs, securing these systems is ultimately about mitigating risks to human life.

“Claroty’s technology addresses a high-stakes problem in enabling safe digital transformation, and we are eager to partner with the team in its journey to protect the critical infrastructure that is the foundation of the AI revolution.”

Alongside the funding round, Claroty has entered into an agreement to acquire Medigate, a healthcare focused IoT security company.

With the close of the round, the company has raised a total of $635m in funding, to-date, which it claims makes it the most well-funded cybersecurity company within the industrial, healthcare and enterprise IoT sectors.

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