Former Mossad chief Yossi Cohen, director of SoftBank's investment activities in Israel, has joined the board of directors of the Israeli-global cyber company Clarotti.
The company announced today (Wednesday) the closure of an E-fundraising round, in the amount of $ 400 million and the signing of an agreement to acquire the Israeli company Medigate.
Medigate is a leader in securing critical infrastructure for hospitals, including medical devices in particular and the Internet of Things (IoT) in general.
The current round brings Clarotti's total funding to $ 635 million, making it the cyber security company that has raised the largest amount of money in the industry, healthcare and enterprise IoT sectors.
Following the investment, the outgoing head of the Mossad, Yossi Cohen, joined Claroti's board of directors.
"Digital transformation initiatives today are driving the vital physical systems we rely on for the most basic human needs, so securing these systems is about reducing risks to human lives. Clarotti's technology provides a solution to a high-risk problem," he said.
Gartner research firm: 82% of health systems reported having experienced a cyber attack in the past 18 months, Hillel Yaffe Hospital attacked in October, Photo: Hillel Yaffe Hospital spokeswoman
The round was jointly led by Soft Bank, which is investing for the first time in Clarotti, and the existing investors - the Bessemer Venture Partners Fund and Schneider Electric.
Among the investors in Clarotti is also Team8.
Yaniv Vardi, CEO of Clarotti, said: “The connection of the physical systems to the network in the manufacturing, healthcare, energy and other industries provides a competitive advantage in terms of flexibility and operational agility, but also increases their exposure to cyber threats with significant implications for public safety, environment and economy.
"The combination of Medigate and Clarotti's deep expertise and unique technologies in a single platform is a huge leap forward in our mission to secure the ever-evolving world of the IoT."
Nadav Tzafrir, founder and CEO of Team8, added that "the field of physical cyber represents a large and very critical part of the world economy and we intend to lead it.
We founded Clarotti in Team8 with a big vision and based on our unique process of building companies, with the goal of producing the leading company in its category.
Acquiring Medigate is a significant milestone in this journey.
"Claroti's move to health security, following its latest round of recruitment, further strengthens its position as the world's leading industrial cyber security platform, for organizations in a wide range of industries."
According to research firm Gartner, 82% of healthcare systems reported having experienced an IoT cyber attack in the past 18 months.
Beyond critical infrastructure, organizations of all kinds are increasingly relying on CPS to operate building management systems (BMS), surveillance cameras, heating systems, ventilation and air conditioning (HVAC) and many other physical processes.
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