Dragos Raises 200m To Protect Industrial Customers From Cyberattacks

Hanover, Maryland-based Dragos, a cybersecurity company that detects and responds to threats in industrial controls systems, announced today that it raised $200 million in series D funding at a $1.7 billion post-money valuation. Dragos claims this marks the largest funding round and the highest valuation achieved by an operational technology (OT) cybersecurity company. The company plans to leverage to expand globally and support customers in electric, oil and gas, chemical, pharmaceutical, food and beverage, water, and manufacturing industries.

“Executives around the world from corporate leadership to government officials have continued to note the criticality of protecting OT and the need to do so with OT specific approaches,” CEO and cofounder Robert M. Lee said in a statement. “The risks are not just in cyberattacks, though those are becoming more numerous and aggressive, but also in ensuring the appropriate insights into … environments to maintain resilience as our world’s infrastructures and industrial automation environments become more connected and more complex. The series D represents further validation of the importance of our mission but is only possible due to our customers and partners. Their tireless efforts to secure our infrastructure too often goes underappreciated.”

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