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Nozomi Networks Secures $7.5 Million in Series A Funding to Protect Critical InfrastructureMENLO PARK, Calif., Oct. 24, 2016 (GLOBE NEWSWIRE) -- Nozomi Networks, the pioneer in cybersecurity and operational visibility for industrial control systems (ICS), today announced it has completed a $7.5 million Series A round of financing. GGV Capital and Lux Capital co-led the investment round with participation from existing investor Planven Investments SA. Glenn Solomon, Managing Partner at GGV Capital, and Bilal Zuberi, Partner at Lux Capital, will join the board of directors as part of the financing.
A photo accompanying this announcement is available at //www.globenewswire.com/NewsRoom/AttachmentNg/124d8028-122b-4983-8aa0-3e75d9d41e5f The growing threat of cyberattacks on critical infrastructure is bringing industrial cybersecurity to the forefront. Industrial networks are exposed to advanced adversaries as evidenced in the well documented Stuxnet attack perpetrated around 2010, to the last year’s BlackEnergy attacks against the Ukrainian power grid. As an early leader, Nozomi Networks developed solutions designed to work with the unique security and monitoring requirements of industrial control systems (ICS). Today, Nozomi Networks products monitor more than 50,000 industrial devices in dozens of multinational customer sites spanning oil & gas, electric utilities, manufacturing and transportation. Founder and Chief Product Officer Andrea Carcano and CTO Moreno Carullo, experts in industrial network security, artificial intelligence and machine learning, established Nozomi Networks in 2013. Today, they are also announcing that Edgard Capdevielle joins Nozomi Networks as the newly appointed CEO to lead Nozomi into its next stage of growth. Capdevielle brings an extensive background in successfully managing development and market expansion for startups and established technology companies in Security, Data Center and Cloud Storage including Imperva, EMC, Data Domain, and others. With this funding, the company is establishing corporate headquarters in the United States, in addition to Switzerland, to effectively address growing market demands worldwide. “The Industrial Internet has shed light on a serious gap in cybersecurity for critical infrastructure,” said Glenn Solomon, Managing Partner at GGV Capital and new board member of Nozomi Networks. “As part of GGV’s longtime focus on cyber security, we’ve been studying the evolving risks around critical infrastructure and believe there is a tremendous opportunity for a specialized security company built from the ground up to address these environments. Nozomi Networks not only has a proven product delivering value to production customers today, but also has assembled the right management team to dominate the space.” “As investors in global industries ranging from satellites in space to autonomous cars, nuclear waste management and advanced chemicals production, we believe Nozomi Networks provides tremendous advantages in industrial operations while simultaneously securing the network from cyberattacks,” said Bilal Zuberi, Partner at Lux Capital and new board member of Nozomi Networks. “We are proud to be investors in Nozomi.” “This is an exciting time for Nozomi,” Andrea Carcano said. “We are thrilled to have GGV and Lux backing our market expansion and product growth; and honored to have Edgard join the Nozomi Networks team. Edgard’s strong management experience and keen understanding of our market and vision make him a perfect fit.” “I continue to be amazed by the breakthroughs Andrea, Moreno, and the exceptional team of engineers have made in such a short period of time,” said Edgard Capdevielle. “With a unique process-centric approach, and by working closely with Nozomi’s customers, they are bringing a much needed and exciting new approach to ICS Security. I am excited to join the team and this next chapter of growth.” Read more about Nozomi Networks’ funding news in this blog post from GGV Capital Managing Partner Glenn Solomon. In a separate release today Nozomi Networks also announced the latest release of its industry-proven SCADAguardian ICS cybersecurity product. Read the full release here. About Nozomi Networks About GGV Capital About Lux Capital About Planven Investments Subscribe to the Nozomi Networks Blog Press Contact: Jil Backstrom Gamut Public Relations [email protected] 303.913.1650 |