Dragos has raised $200 million in Series D funding at a valuation of $1.7 billion. The investment, which Dragos says is also the largest funding round achieved by an industrial cybersecurity firm, was led by Koch Disruptive Technologies and BlackRock.
The funds will be used to accelerate the company’s global expansion and support customers in key growth markets, including electric, oil and gas, chemical, pharmaceutical, food and beverage, water and manufacturing.
“We weren’t trying to raise the Series D round,” CEO Robert Lee told TechCrunch. “What ended up happening was because people realized how important operational technology is, and you’ve got the president talking about it, the investment community woke up to the opportunity.”
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Dragos was founded in 2016 to detect and respond to threats facing industrial control systems (ICS), the devices key to the continued operations of power plants, water systems and other critical infrastructure.