Dragos, a Hanover-based industrial cybersecurity startup, raised USD 200 million in a Series D round led by Koch Disruptive Technologies on 28 October 2021.

Investors: Koch Disruptive Technologies, an investment arm of Koch Industries, led the latest funding round with participation from Emerson, Hewlett Packard Enterprise, National Grid Partners, Allegis Cyber, Canaan, DataTribe, Energy Impact Partners, Global Reserve Group, Schweitzer Engineering Labs, and Rockwell Automation. Funds and accounts are managed by BlackRock, a leading global asset manager.

The Objectives behind the funding: The company plans to deploy the current proceeds to accelerate its global expansion and support customers in key growth markets across diverse industries, including electric, oil & gas,  pharmaceutical, chemical, food and beverage, water, and manufacturing.

About Dragos

Source: Company’s LinkedIn profile

Founded in 2016 by Robert M. Lee, Dragos is an industrial (OT/ICS/IIoT) cybersecurity company on a mission to safeguard civilization. The company’s integrated software platform provides critical visibility into ICS and OT networks to identify and address threats before they become significant events. It enables clients in power and water utilities, energy, and manufacturing industries to establish a resilient and adaptable security posture. The company is privately held and headquartered in the Baltimore-Washington, DC area, with a regional presence worldwide, including Canada, Australia, New Zealand, Europe, and the Middle East.

What the Founder has to say:

“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,” said Robert M. Lee, Chief Executive Officer and Co-Founder of Dragos, Inc. “The risks are not just in cyberattacks, though those are becoming more numerous and aggressive, but also in ensuring the appropriate insights into ICS/OT 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.”

What the Investor has to say:

“Koch Industries is modernizing the operations of our more than 500 global facilities, and Dragos has quickly proven to be a key partner in delivering the industrial cybersecurity protection we and our customers need,” said Byron Knight, Managing Director and Chief Operating Officer at Koch Disruptive Technologies. “We believe the Dragos Platform plays a key part in managing risk across our enterprise, delivering the products and services our customers depend on without interruption. Our repeated investments in Dragos underscore our confidence in their technology and team and demonstrate our commitment in defending our operations against cyberattacks at the industrial level.”  

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Manish writes about the startup ecosystem on VCBay. He is pursuing Master of Commerce from Delhi School of Economics, University of Delhi, and is passionate about the world of finance, information technology & entrepreneurship.



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