Participated · Series E · Mar 2024

Nozomi Networks provides OT and IoT security through a platform that combines network and endpoint visibility, threat detection, and AI-powered analysis to support effective incident response. The company serves customers seeking to minimize risk and complexity while maximizing operational resilience for critical infrastructure. Led by President and CEO Edgard Capdevielle, Nozomi emphasizes OEM-agnostic security solutions in response to escalating attacks on critical infrastructure. The firm intends to use the new funds to scale product development efforts and expand its go-to-market approach globally. Nozomi is based in San Francisco, CA. The company recently completed a significant financing round that strengthens its financial position for growth. Nozomi Networks builds industrial cybersecurity software that detects threats to industrial control systems (ICS) and provides real-time visibility to manage cyber risk and improve operational resilience. Its technology supports almost 50 million devices across sectors including critical infrastructure, energy, manufacturing, mining, transportation and utilities. The company says it doubled its customer base in 2020 and saw a 5,000% increase in the number of devices its solutions monitor. Nozomi competes with firms such as Dragos and Claroty and emphasizes preventing attacks before they hit OT environments. It plans to scale product development and expand go-to-market efforts globally, with specific investments in sales, marketing and partner enablement and product upgrades for OT and IoT visibility and security. The business recently raised a significant pre-IPO financing to fund those efforts following a Series C earlier under two years prior. Nozomi Networks provides OT and IoT security and visibility solutions that deliver operational visibility, advanced threat detection and operational insight for industrial control networks. Its products are deployable onsite and in the cloud and span IT, OT and IoT to automate inventorying, visualizing and monitoring through the use of AI. The company’s solutions currently support more than 17 million devices in thousands of installations across energy, manufacturing, mining, transportation, utilities, building automation, smart cities and critical infrastructure. Nozomi aims to extend IT, OT and IoT cybersecurity services across public and private sector enterprises in the UAE and the broader MENA region through a partnership with Forward Investments. To date the company’s total funding exceeds $54M, with backers including GGV Capital, Lux Capital, Energize Ventures, Planven Investments and Telefónica. The company emphasizes securing modernization of critical industrial infrastructure and accelerating digital transformation for utilities and other OT sites. Nozomi Networks delivers security and operational visibility for OT and IoT environments, using AI to automate inventory, visualization and monitoring of industrial control networks. Its products can be deployed on‑premises and in the cloud and span IT, OT and IoT environments. The company supports more than 3.6 million devices across over 2,400 installations and operates in 16 countries. Use cases extend beyond cybersecurity to troubleshooting, asset management and predictive maintenance. Nozomi is positioned as a market leader in OT/IoT security and detection and partners with service providers to reach industrial customers. The company has raised more than $54 million in total funding to date from investors named in the article. Nozomi Networks builds security products for industrial control systems, emphasizing passive threat and anomaly detection that combines behavior-based and signature-based approaches, and offering an active detection option for specific threats. The company says it secures more than 300,000 industrial devices and counts hundreds of hydroelectric and gas distribution facilities among its customers. Management plans to continue investing in product and R&D while prioritizing awareness, sales, reach, and technical support to expand its customer base. This year the company has expanded its global footprint to target markets including Canada, the UK, and Germany. The rise in connectivity of ICS systems and growing threats to critical infrastructure form the backdrop for demand in Nozomi’s offerings. Financially, Nozomi has completed multiple raises this year and reported a valuation of about $150 million after an earlier round.

Participated · Series C · Feb 2024

ZEDEDA provides edge management and orchestration software (including the open-source EVE-OS architecture) that reduces the cost of managing distributed edge infrastructure while increasing visibility, security and control. The company delivers an integrated technology stack intended to simplify security and remote management of edge workloads and claims tens of thousands of nodes under management. ZEDEDA is expanding its global footprint with a newly opened Middle East headquarters in Abu Dhabi to house sales, engineering and customer support teams. It announced new regional cloud support to help customers meet data residency requirements while leveraging cloud-native technologies and AI capabilities. ZEDEDA plans to recruit local talent and develop partnerships with Middle East solution providers to strengthen its ecosystem. The company reports teams in the United States, Germany and India and positions the Abu Dhabi hub as a fourth strategic operations center. ZEDEDA offers edge management and orchestration software that reduces the cost of managing distributed edge infrastructure while increasing visibility, security and control. Its platform delivers instant time to value and supports modern AI-based applications with offerings such as ZEDEDA Edge Application Services and ZEDEDA Edge Kubernetes Service. The company reports tens of thousands of nodes under management and said nodes under management grew more than 300% year-over-year. Annual recurring revenue grew more than 250% year-over-year, and ZEDEDA counts 12 Global and Fortune 500 customers, including an automaker standardizing ZEDEDA across 70,000 dealerships, manufacturing facilities and service centers in 153 countries. ZEDEDA plans to use the new funding to expand sales and marketing, accelerate research and development, and continue hiring for sales and engineering roles globally. The company has teams in the United States, Germany and India and has achieved ISO/IEC 27001:2022 certification. ZEDEDA offers an edge management and orchestration platform that enables deployment and connection of cloud-native workloads—such as AI and computer vision—across distributed industrial environments. Its solution integrates with Emerson’s DeltaV automation system to extend DeltaV to the distributed edge and bridge IT and OT. The company is deployed within Fortune 500 firms across manufacturing, automotive, energy, and retail. ZEDEDA has quadrupled its nodes under management since 2021, signalling rapid operational growth. It recently closed a $26 million Series B financing. The firm positions its platform to modernize existing operations by delivering software-defined automation and extending cloud capabilities to the edge. The expanded relationship with Emerson includes both commercial integration and a strategic investment from Emerson Ventures. Zededa offers a software-as-a-service edge orchestration and virtualization stack that manages edge devices, guides deployments, and runs apps on bare-metal hardware or in virtual machines. Its product builds on the Linux Foundation’s EVE-OS and is vendor-agnostic, supporting devices from OEMs like SuperMicro. Use cases include monitoring sensors and security cameras, updating software in cell towers, and industrial deployments across IT infrastructure, industrial automation and oil & gas. The company reports its edge devices under management grew 4x in the past year while revenue grew 7x. Zededa has roughly a 100-person team across the U.S., Germany and India and plans to expand R&D, sales and marketing within the year. Future product focus includes improving ease of use and security, broadening integrations and enabling legacy-application updates and simplified AI/ML solutions. ZEDEDA provides a cloud-native, vendor-agnostic orchestration platform that enables enterprises, OEMs and system integrators to deploy and manage any application on any hardware at the distributed edge. Its as-a-service solution offers visibility, control and security for on‑premises, near‑premises and field edge deployments and supports any cloud or on‑premises system. The company plans to use new capital to scale operations and accelerate R&D, sales and marketing. ZEDEDA announced a highly oversubscribed $12.5M expansion to its Series A and has $28.5M in total funding to date. It expects to more than triple the number of customer edge nodes under management by mid‑2021. ZEDEDA is headquartered in San Jose, CA, with offices in Bangalore and Pune, India.