Claroty, a security company for cyber-physical systems (CPS) across industrial, healthcare, and enterprise environments, has completed the acquisition of Medigate, a healthcare IoT specialist. The acquisition positions Claroty to secure the Extended Internet of Things (XIoT) by delivering visibility, protection, and threat detection for all connected organizations via one comprehensive solution.
“Highly interconnected CPS have become pervasive in industrial and healthcare environments in recent years in order to drive innovation, resilience, sustainability, and better health outcomes. However, greater connectivity begets greater exposure to risks, with serious consequences for patient safety, public safety, and the environment,” said Yaniv Vardi, CEO of Claroty. “Together, Claroty and Medigate will combine our deep domain expertise and specialized technologies into a comprehensive platform that will extend across all types of CPS and connected devices to secure the XIoT.”
Ransomware attacks affecting CPS in all sectors reached record-breaking highs in 2021, and 82% of healthcare systems reported IoT cyber attacks in just the last 18 months. This has led to a surge of new security regulations urging and even mandating organizations to take action.
The acquisition was funded by Claroty’s $400 million Series E round, announced in December 2021. The round was led by SoftBank Vision Fund 2, Bessemer Venture Partners, Schneider Electric, Rockwell Automation, Standard Investments, Team8, and ISTARI (a global cybersecurity platform established by Temasek). Claroty has raised $635 million to date.