Israeli Firm Radiflow Raises $18 Million to Grow Industrial Cybersecurity Business
18.7.18 securityweek IT ICS
Israeli cyber security firm Radiflow, which provides cybersecurity solutions for industrial control systems (ICS) and Supervisory control and data acquisition (SCADA) networks, announced on Wednesday that it has raised $18 million in venture funding through an investment round led by Singapore-based engineering company ST Engineering.
Radiflow’s product offerings include risk assessment, threat detection and secure remote access tools with industrial asset visibility and anomaly detection.
Under a strategic partnership, ST Engineering has integrated Radiflow’s detection and prevention tools with its SCADA system.
Radiflow logoMore specifically, Radiflow said that its tools would be integrated with ST Engineering’s Rail Command, Control and Communications (C3) Systems (SCADA) to offer an end-to-end cybersecurity solution for the rail transport industry.
Radiflow says the investment will be used to expand its sales team to support growing market demand, strengthen its brand globally and support product development.
Radiflow also recently announced partnerships with Palo Alto Networks and RSA, to make field deployments easier and help ensure compliance with new regulations, including NERC CIP and the EU NIS Directive.
Radiflow will demonstrate its technology at SecurityWeek’s 18 ICS Cyber Security Conference, taking place October 22-25, 18 in Atlanta.
Radiflow is one of several cybersecurity startups targeting the industrial space that have raised funding. Some others include Dragos, Indegy, Bayshore Networks, CyberX, SCADAfence and Nozomi Networks. Veteran industrial software firm PAS raised $40 million in April 2017. Darktrace, which has an offering targeted to the industrial sector, raised $75 million at a valuation of $825 million in July 2017. Just last month, New York-based Claroty announced that it had raised $60 million in a Series B funding round, bringing the total amount raised by the company to date to $93 million.