Cybersecurity firm Dragos has secured $74 million in a Series D extension funding round. The investment was led by WestCap, a prominent investing firm. This fresh funding comes on top of the Series D round that Dragos had in October 2021, increasing their total Series D funding to $274 million. With this latest injection of capital, Dragos has now raised a total of $440 million in investment funding.
In light of the increasing frequency and complexity of cyberattacks, Laurence A. Tosi, the founder and managing partner at WestCap, emphasized the importance of supporting leading companies like Dragos in their mission to protect civilization from cyber threats. Tosi stated, “As cyberattacks escalate in frequency and complexity, it is critical that we support the scaling of leading companies like Dragos whose mission is to ‘safeguard civilization.'”
The additional funding will enable Dragos to expand its operations beyond the United States and Europe. The company has already established a strong presence in the United Kingdom and recently joined forces with Macnica in Japan to provide Dragos products in that region. Moreover, Dragos has signed a memorandum of understanding with the Cyber Security Agency of Singapore to strengthen cybersecurity measures against potential cyberattacks in the region. Additionally, Dragos has increased its presence in the Middle East.
By expanding globally, Dragos aims to enhance its ability to effectively combat cyber threats on a larger scale. The investment will allow the company to broaden its reach and establish itself as a key player in the cybersecurity industry worldwide.
Dragos specializes in Industrial Control Systems (ICS) and Operational Technology (OT) security. Their platform helps organizations protect critical infrastructure systems, such as power plants, water treatment facilities, and manufacturing plants, from cyber threats. With increased funding, Dragos can further develop and enhance its technology to stay ahead of evolving threats and provide even more comprehensive cybersecurity solutions to its clients.
The cybersecurity landscape is continuously evolving, with cybercriminals constantly developing new techniques to breach security systems. This makes it imperative for companies like Dragos to innovate and stay one step ahead. The additional funding will enable Dragos to invest in research and development, recruit top cybersecurity talent, and continue expanding its comprehensive cybersecurity offerings.
Dragos’ success in raising significant funding reflects the growing recognition of the importance of cybersecurity in the digital age. As cyber threats become more sophisticated and prevalent, businesses and governments worldwide are prioritizing robust cybersecurity measures to protect their critical assets and data.
Given the current global cybersecurity landscape, the expansion of Dragos is a strategically wise move. By extending its operations beyond the US and Europe, Dragos can tap into new markets and reach a wider client base. This will not only benefit Dragos but also contribute to the overall improvement of global cybersecurity capabilities.
As the company expands its presence globally, Dragos aims to continuously enhance its partnerships and collaborations with various stakeholders in the cybersecurity ecosystem. By fostering collaborations with governments, industry leaders, and other cybersecurity firms, Dragos can share expertise, resources, and insights to collectively combat cyber threats more effectively.
With the additional funding, Dragos is well-positioned to strengthen its position as a global leader in industrial cybersecurity. By leveraging its expertise, technology, and expanded global footprint, Dragos is poised to defend critical infrastructure systems and help safeguard civilization against the ever-growing cyber threats.