Saudi Aramco Energy Ventures invests in US-based Dragos

Saudi Aramco Energy Ventures invests in US-based Dragos

Source: TechCrunch

Cybersecurity firm Dragos has raised $110 million in its Series C, almost triple the amount that it raised two years ago in its last round.

Dragos was founded in 2016 to detect and respond to threats facing industrial control systems (ICS), the devices critical to the continued operations of power plants, water and energy supplies, and other critical infrastructure. The company's threat detection platform “” its moneymaker “” helps companies with industrial control systems defend against hackers trying to get into important operational systems. Its platform kicks out hackers that could shut down manufacturing lines or control energy supply systems, while its research arm keeps tabs on the hackers that can break into these highly complex and segmented industrial networks in the first place.

The startup's latest round was led by National Grid Partners and Koch Disruptive Technologies, with both firms adding a member each to Dragos' board. The round also saw participation from Saudi Aramco Energy Ventures and Hewlett Packard Enterprise, as well as return investors Allegis Cyber, Canaan Partners, DataTribe, Energy Impact Partners and Schweitzer Engineering Labs.

This latest round of funding will help the company with its go-to-market efforts, as well as growing its customer support team with 30 staff and building up