Claroty
Overview
Claroty is a prominent player in the cybersecurity sector, specializing in protecting operational technology (OT) and industrial networks from cyber threats. Founded in 2015 by Amir Zilberstein, Benny Porat, and Galina Antova, the company develops solutions for safeguarding cyber-physical systems in sectors like energy, manufacturing, and healthcare. Headquartered in New York City, Claroty has raised substantial funding, amassing over $740 million from investors like Bessemer Venture Partners, Rockwell Automation, and others. Its platform integrates seamlessly with existing infrastructures, offering asset visibility, threat detection, and risk management.
Recent Developments
In the last couple of years, Claroty has made significant strides in the cybersecurity landscape:
- Q2 2024: Claroty was named a Strong Performer in Forrester's Wave report for Operational Technology Security Solutions. The report highlighted Claroty's strong vision, asset discovery, and identification capabilities.
- March 2024: The company secured $100 million in a strategic growth financing round, led by Delta-v Capital, to bolster its platform’s reach and capabilities. This funding is aimed at expanding their vertical and regional footprint, enhancing R&D, and strengthening strategic partnerships.
- 2023: Claroty surpassed $100 million in annual recurring revenue, indicating robust financial health.
- Partnerships: Claroty has been expanding its partnerships, most notably with Amazon Web Services, integrating its SaaS-powered solutions for comprehensive cyber-physical systems protection.
- Research and Innovations: Claroty's Team82 has been instrumental in discovering and reporting over 550 cyber-physical system vulnerabilities, keeping the company at the forefront of cybersecurity innovation.
- Industry Recognition: Claroty has been consistently recognized in various analyst reports and has been named a leader in several cybersecurity domains.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2015 |
| Headquarters | New York City, New York, USA |
| Founders | Amir Zilberstein, Benny Porat, Galina Antova |
| Revenue | Over $100 million (2023) |
| Key Investors | Bessemer Venture Partners, Rockwell Automation, AllianceBernstein, among others |
| Industry | Cybersecurity, Industrial Control Systems |
| Number of Employees | Approximately 600 |
| Major Products/Services | Claroty Platform, Continuous Threat Detection (CTD), Secure Access Solutions |
Early History
Claroty was founded in 2015 with the mission to secure critical infrastructure industries by providing innovative cybersecurity solutions tailored for industrial control systems. The company was birthed out of Israeli cybersecurity foundry Team8 and quickly captured the attention of leading investors, raising $32 million in its initial funding round in 2016. Initially, Claroty focused on providing unprecedented visibility and security for industrial networks, addressing vulnerabilities that traditional IT security solutions often overlooked. Their early success can be attributed to their deep understanding of OT environments and their ability to navigate and address the complexities of industrial network security.
Company Profile and Achievements
Claroty operates by offering a comprehensive cybersecurity platform that integrates with existing industrial control systems to manage and mitigate cyber risks. Key aspects of Claroty's approach include:
- Asset Discovery: Provides companies with a detailed inventory of all connected devices to enhance visibility.
- Threat Detection: Employs advanced anomaly detection methods to prevent unauthorized actions within OT networks.
- Secure Access: Enables secure remote access to OT environments, facilitating necessary maintenance without compounding cybersecurity risks.
- Strategic Alliances: Claroty has formed strategic alliances with prominent technology and security firms such as AWS, IBM, and Schneider Electric to enhance their platform capabilities.
- Leadership in Research: Claroty's Team82 has contributed significantly to threat research, negotiating the balance between operational functionality and security.
- Global Reach: Serving industries across the globe, Claroty maintains a significant presence not just in the U.S., but also in Latin America, Asia-Pacific, and EMEA regions.
Current Operations and Market Position
Claroty continues to expand its influence and capabilities within the cybersecurity realm. Its current operations focus on fortifying industrial networks against the backdrop of burgeoning cyber threats associated with the Internet of Things (IoT) and increasing connectivity of OT environments.
- Market Share and Position: Claroty is recognized as a leader in OT security solutions, holding a competitive edge due to its comprehensive suite of cybersecurity tools that cater specifically to industrial settings.
- Rising Demand: With the increasing frequency of cyberattacks on critical infrastructure, there is a growing demand for Claroty's solutions, particularly in sectors like healthcare, oil and gas, and manufacturing.
- Innovation and Expansion: Claroty remains committed to continual innovation, expanding its suite of products to include solutions that address the complete lifecycle of cyber-physical security, embedding resilience and compliance into OT operations.
Claroty India
Claroty's expansion strategy includes increasing its operational footprint in emerging markets such as India, which is rapidly digitalizing its industrial base. This region represents a significant growth opportunity for the company, aligning its offerings with local market needs, especially in utilities and manufacturing sectors.
Claroty IPO
While there have been speculations about an IPO, Claroty has not publicly announced any definitive plans for going public. The company's recent funding success indicates strong investor confidence, which may defer IPO considerations in the short term, allowing further private expansion and strategic partnerships.
Conclusion
Claroty plays a crucial role in the cybersecurity landscape, particularly for industrial control systems and critical infrastructure. As cyber threats evolve, its comprehensive platform offers a robust solution to manage these risks, making it an indispensable partner for organizations worldwide. With continued innovation and strategic growth, Claroty is well-positioned to maintain and expand its leadership in the cybersecurity domain, potentially setting the stage for a prominent IPO in the future.