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Nozomi Networks has announced a $100M in Series D and a pre-IPO funding round led by Triangle Peak Partners. It states that this has been a year of record growth, topping a 110 percent increase in annual recurring revenue and a two-fold increase in customer base
Nozomi Networks, a provider of cybersecurity and operational visibility solutions, has raised $100 million in a Series D and pre-IPO funding round led by Triangle Peak Partners to accelerate growth and extend its market leadership, a press release from the company said.
The previous investment in Nozomi was in 2020, where it raised an undisclosed sum. The company’s Series C came in 2018, where it netted $30 million. Other and existing investors from an ecosystem of technology partners- GGV Capital, Lux Capital, Energize Ventures, Planven Entrepreneur Ventures, and Activate Capital, Forward Investments, Honeywell Ventures, In-Q-Tel, Keysight Technologies, Porsche Ventures, Telefónica Ventures – participated in the round.
Nozomi Networks, founded in 2013, accelerates digital transformation by protecting critical infrastructure, industrial and government organizations from cyber threats. Its solutions offer network and asset visibility, threat detection, and insights for Operational Technology (OT) and Internet of Things (IoT) environments. The company stated that it would use the proceeds from this funding to enhance product development and go-to-market strategy.
Edgard Capdevielle, president and CEO of Nozomi Networks, stated that as the company began raising funds, many recognized Nozomi as an industry leader and requested the opportunity to invest in the company,
It is 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 leadershipEdgard Capdevielle, president and CEO of Nozomi Networks
Nozomi Networks added that it would grow its sales, marketing and partner enablement efforts, and enhance its products to address new challenges in the OT and IoT environments. The company stated that the funding came when it has achieved a series of milestones, including a 110 percent increase in annual recurring revenue and a two-fold increase in customer base, among others.
Dain F. DeGroff, co-founding partner and president of Triangle Peak Partners, stated that with the OT and IoT security market being on the verge of hyper-growth, Nozomi Networks has not only risen to the top but is well-positioned to continue outpacing the market,
The company’s consistently strong performance in combination with an impressive R&D model and its ability to scale quickly set itself apart. We’re excited to be a part of Nozomi Networks’ future,Dain F. DeGroff, co-founding partner and president of Triangle Peak Partners