The industrial cyber company Clarotti raised $ 140 million in Round D

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by Ifi Reporter Category:Financial Jun 17, 2021

The industrial cyber company Clarotti raised $ 140 million in Round D. The company declined to state the value at which it raised, but learned that it stands at $ 1 billion. This is the company's first recruitment since 2018.
The round was co-led by Bessemer Venture Partners' Century II growth fund, set up to invest in market-leading companies, and 40 North, the investment arm of global industry giant Standard Industries. Other strategic investors who participated in the round are LG and I Squared Capital's ISQ Global InfraTech Fund. In addition, all previous investors in Clarotti - including Team8 and its longtime customers and partners Rockwell Automation, Siemens and Schneider Electric - also participated in the current investment round, which brings the total capital raised by Clarotti to date to $ 235 million. According to Yaniv Vardi, the company's CEO, the round included a very small scanner component that stands at a few million dollars.

Clarotti was founded in 2015 by Amir Zilberstein, who serves as chairman, Galina Antova, VP of Business Development, and Benny Porat, the company's CTO. The president of the company is Nadav Tzafrir. Vardi took over as CEO during 2020.
The industrial cyber industry was not very popular in Israel, and many companies in the field were sold at relatively low prices - such as Cyber ​​X and Indji. Vardi tells Calcalist that there is a lot of timing involved: "The market in our field has changed. Most companies were sold several years ago when industrial companies were not the target of cyberattacks, but only in recent months has the big fuel company shut down, the largest meat company - JBS Paying $ 11 million in ransom, Honda was attacked, and Florida's water infrastructure was also damaged, "he says, noting that" if companies sold in the past had patience or more money, they could have been much bigger. "
Vardi understands that the right timing to break out is now: "We are here to build a real market leader. What checkpoint was for the firewall we will be in the industrial field, and we are not far away. In the last year we are engaged in the whole plant field, not just mornings. The industrial. "
Vardy says one of the significant changes the company went through was the launch of Windows-based technology: "We released a Windows-based product that, with no change, you have a mapping of all industrial networks - with weaknesses and risks, all in the cloud and no change," says Vardi.
The technological changes have led the company to compete with other Israeli cyber companies that also operate in tangent fields, such as Armis. "In the near future I want to grow into new areas like transportation and government, alongside the areas we operate in like food and beverages, pharmaceuticals and automobiles, and also to other areas, like Japan. In our areas of expertise we operate wide and deep. Armis goes just wide and covers the whole market. "Partnerships - with Siemens, Rockwell, Schneider and others, they have invested in us and developed their protocols with us. I do not compete in the world of finance or banking but in the world of industry."
The company currently employs 270 people, 140 of them in Israel. This year alone, 80 new employees were recruited, and it intends to recruit 300 employees by the end of the year.
David Kwan, partner at Bessemer Venture Partners: "We have launched our growth fund with the aim of investing in significant market leaders. We focus on assisting the next generation of companies that define categories and show a clear fit of the product to the market, along with scalability and strong management. In 2016, the company continued to demonstrate that it has the best vision, staff and technology to address the unique challenges of critical infrastructure security. ”

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