CyberX, a Boston, MA-based IIoT and industrial control system (ICS) security company, raised $18m in a strategic funding.
The round, which brought total funding to date to $48m, was led by Qualcomm Ventures LLC and Inven Capital, with participation from existing investors Norwest Venture Partners, Glilot Capital Partners, Flint Capital, and OurCrowd.
The company intends to use the funds to expand its global go-to-market presence, innovative product development, and IIoT threat intelligence capabilities.
Founded in 2013 and led by Omer Schneider, co-founder and CEO, and Nir Giller, co-founder, CTO, and EMEA GM, CyberX delivers an industrial cybersecurity platform for continuously reducing IIoT and ICS risk and preventing production outages, safety failures, environmental incidents, and theft of sensitive intellectual property across all industrial and critical infrastructure sectors including energy, oil and gas, manufacturing, pharmaceuticals, mining, water utilities, building management, and other sectors.
Customers include 2 of the top 5 US energy providers; a top 5 global pharmaceutical company; a top 5 US chemical company; and national electric and gas utilities across Europe and Asia-Pacific.
Strategic partners include Palo Alto Networks, IBM Security, Splunk, Optiv Security, McAfee, DXC Technology, and Deutsche-Telekom/T-Systems.