Home Startups Indegy raises $18 million, appoints key executives

Indegy raises $18 million, appoints key executives

Startup funding

Industrial cybersecurity startup Indegy recently closed an $18 million Series B round of financing led by Liberty Technology Venture Capital. The other investors in the round included Centrica PLC, O.G. Tech Ventures and existing investors Shlomo Kramer, Magma Venture Partners, Vertex Ventures, and Aspect Ventures. The company stated that the new funds will help to expand its marketing reach in the cybersecurity industry.

Indegy also announced the appointment of Joe Scotto from BAE Systems as Chief Marketing Officer and Todd Warwick from Imperva as Vice President of Sales to its management team.

“Recent reports by the DHS and FBI regarding attacks against critical infrastructures have created a greater sense of urgency among industrial organizations to shore up their defenses and produced a major spike in new business for Indegy,” said Barak Perelman, CEO of Indegy. “This capital infusion provides the financial resources required to scale up the company and capitalize on this market opportunity. On the management front, the addition of Joe Scotto as CMO and Todd Warwick as VP Sales, Americas, gives us the experienced leadership we need to escalate our growth and market expansion.”

Founded in 2014, the Tel Aviv-based startup develops Industrial Control System (ICS) networks, which help protect systems from cyber threats, malicious insiders and human error by providing visibility and control. The ICS suite combines cybersecurity expertise with hands-on industrial control knowledge, deployed by manufacturing, pharmaceutical, energy, water, and other industrial organizations to protect their systems from cyberattacks.

“With a growing customer portfolio that spans 35 countries, we’re working to bring businesses world-leading energy management solutions that will allow customers to take greater control of their energy,” said Christophe Defert, VP Ventures for Centrica Innovations. “In an increasingly connected world, we’re looking forward to working with Indegy as we explore ways to deploy distributed energy resources with the optimal security solution.”