AUCKLAND, August 3, 2021 — Nozomi Networks Inc., the leader in OT and IoT security, today announced a US$100 million pre-IPO-funding round to help accelerate the
company’s growth phase and extend its market leadership. Led by Triangle Peak Partners, the Series-D round also includes
investments from a large stable of equipment, security, service provider and go-to-market companies including:Forward InvestmentsHoneywell VenturesIn-Q-TelKeysight TechnologiesPorsche VenturesTelefónica Ventures
“As we began the fund-raising process, many of the largest ecosystem partners in the world along with our customers
recognised Nozomi Networks as the industry leader and requested the opportunity to invest in the company,” said Edgard
Capdevielle, President and CEO of Nozomi Networks. “It’s the ultimate endorsement when not only a prestigious firm such
as Triangle Peak Partners leads the investment, but customers and partners embrace Nozomi Networks and further validate
our market leadership.”
The company will use this latest investment to help scale product development efforts as well as its go-to-market
approach globally. Specifically, Nozomi Networks will grow its sales, marketing and partner enablement efforts, and
enhance its products to address new challenges in both the operational technology (OT) and internet of things (IoT)
visibility and security markets. With ransomware and malware attacks on organisations and critical infrastructure at an
all-time high, the need for Nozomi Networks solutions has never been greater.
“With the OT and IoT security market on the verge of explosive growth, Nozomi Networks has not only risen to the top but
is strongly positioned to continue to outpace the market,” said Dain F. DeGroff, Co-founding Partner and President,
Triangle Peak Partners. “The company’s consistently strong performance in combination with an impressive R model and its ability to scale quickly set itself apart. We’re excited to be a part of Nozomi Networks’ future.”
This round is the latest in a series of milestones for the company, including:a record year of growth in 2020110% increase in annual recurring revenue2x expansion of its customer base5,000% growth in the number of devices its solutions monitorEntering 2021, Nozomi Networks continues to exceed its revenue goalsIn May, VDC Research recognised Nozomi Networks as the overall share leader for industrial cybersecurity software based on 2020 revenueIn June, the company’s plans to build a Cyber Centre of Excellence with Lockheed Martin moved forward when the Swiss
Federal Council announced it has selected Lockheed Martin’s F-35 from its New Fighter Aircraft competition
Triangle Peak Partners was joined by all prior investors, including GGV Capital, Lux Capital, Energize Ventures, Planven
Investments SA, and Activate Capital.Supporting Investor Quotes
“With the constant rise of cyber threats facing asset owners around the world, including critical infrastructure,
customers are looking for better and more efficient ways to protect operating environments and reduce cybersecurity
risk. As a partner of Nozomi Networks, we have seen first-hand the momentum it has, the value it delivers to customers
and the opportunity we have for continued growth. Our investment reinforces the importance of our relationship with
Nozomi Networks, and it will strengthen our ability to deliver a robust OT cybersecurity portfolio, supported by
Honeywell’s global professional and managed security services.”Que Dallara, President and CEO, Honeywell Connected Enterprise
“Digitalisation is changing and disrupting entire industries, including the automotive sector. Cybersecurity is playing
a crucial and growing role for all companies and their internal processes and production facilities as cyber-attacks
have become a serious threat. This investment fuels advancements in precision OT and IoT Security as Nozomi Networks’
technology ensures optimal data security and network monitoring. We are excited to strengthen our partnership with
Nozomi Networks to improve the security within the supply chain of important industries.”
Stephan Baral, Head of Porsche Ventures Region US
“We are very happy to be an investor in Nozomi. They have been a fantastic partner to work with through the course of
our strategic engagement. Nozomi Networks’ use of machine learning enables them to provide advanced device
identification, behavioural analysis, and anomaly detection capabilities through passive monitoring of IoT and OT
networks. This level of visibility is essential for protecting critical infrastructure devices and networks. Their
solution is designed to support distributed network architectures and integration with a broad range of security
products, making it well suited for deployment into the challenging and diverse operating environments of the U.S.
intelligence and defence communities.”Brinda Jadeja, Senior Partner, Investments, In-Q-Tel
"Over the course of our long-term partnership with Nozomi Networks we’ve continued to be impressed by their expertise in
OT and IoT security. The joint network visibility and security solutions we have built together over the past several
years are more of an operational imperative than ever, and this investment exemplifies our commitment to the industrial
security market.”Scott Westlake, Vice President Business Development, Keysight Technologies
“Our investment in Nozomi Networks is arguably one of the most critical investments in Telefónica’s commitment to
cybersecurity for the industrial environments that are facing a barrage of constantly evolving threats. Monitoring and
threat detection systems are critically important in helping minimise risks and maintain operational resilience. The
high-quality and highly scalable AI-based technology developed by Nozomi Networks is essential for our industrial
customers. For us, Nozomi Networks is a trusted ally in this important fight.”Guenia Gawendo, Managing Director of Telefónica Ventures
“In line with Dubai’s visionary leadership’s drive towards building the smartest city in the world and a global leader
in innovation, safety and security, our investment in Nozomi Networks showcases our commitment to a global OT security
firm that targets utilities. Nozomi Networks helps clients fulfill their vision to deliver digital utilities using
autonomous systems for renewable energy, storage, and expansion in artificial intelligence (AI) adoption by providing
digital services. Given escalating cyber risks to ICS and control networks, advanced monitoring and threat detection
systems play an increasingly critical role. It seems fitting that the ground-breaking investment for Forward Investments
is with Nozomi Networks the company that pioneered and continues to innovate the way we secure the modernisation of
critical industrial infrastructure in the region and around the globe.”H.E. Saeed Al Tayer, Chairman of Forward Investments
###About Nozomi Networks
Nozomi Networks accelerates digital transformation by protecting the world’s critical infrastructure, industrial and
government organisations from cyber threats. Our solution delivers exceptional network and asset visibility, threat
detection, and insights for OT and IoT environments. Customers rely on us to minimise risk and complexity while
maximising operational resilience. www.nozominetworks.com