Nozomi Networks Scores $100M Series E Round To Scale IoT, OT Security Products

Mitsubishi Electric and Schneider Electric participated in the funding round.

Operational technology and connected devices security vendor Nozomi Networks has landed a $100 million series E round of funding with plans to scale product development and go-to-market efforts.

Nozomi, based in San Francisco, received funding from Mitsubishi Electric and Schneider Electric as part of the round, according to a statement Wednesday.

The vendor has about 200 channel partners worldwide and about 40 in North America, according to CRN’s 2024 Channel Chiefs. Schneider is also a 2024 Channel Chiefs member.

[RELATED: Nozomi Networks’ Roya Gordon On Latest OT, IoT Threats: From Ransomware To Hacktivism]

Nozomi Series E Round

CRN has reached out to Nozomi for comment.

Nozomi CEO Edgard Capdevielle said in the statement that his company has stood out for its ability to provide a security platform in heterogeneous environments with agnosticism for the original equipment manufacturer (OEM). Continued cyberattacks against infrastructure worldwide has also been a factor fueling Nozomi’s demand.

Honeywell Ventures, Johnson Controls. Samsung and others with a presence in OT and internet of things (IoT) have also invested in Nozomi, which boasts of protecting more than 105 million devices worldwide.

Nozomi also revealed Wednesday that it has more than 12,000 installations spanning six continents and has grown its organic growth in annual recurring revenue (ARR) fivefold since launching its flagship Vantage product in 2021.

The vendor has an ecosystem of more than 2,000 certified Nozomi networks engineers worldwide, according to Nozomi.

Other security vendors to raise outside funding recently include Axonius and NinjaOne.