Telefónica invests in OT and IoT security company Nozomi Networks
Jul 7, 2020
Madrid and San Francisco, 7 July 2020 - Telefónica, through TIV (Telefónica Innovation Ventures), its corporate venture capital vehicle, has made an investment in Nozomi Networks Inc., a leading OT and IoT security provider that operates in 16 countries and enables real-time visualization of cyber risks, as well as managing and improving the resilience of industrial operations. This investment represents a strategic undertaking to increase Telefónica’s cooperation with this leader in cybersecurity, which specializes in protecting operational technology (OT) and internet of things (IoT) infrastructures in sectors such as energy, pharmaceuticals, manufacturing, logistics and the automotive industry.
Recognized as the market leader in OT and IoT security, Nozomi Networks is valued for superior operational visibility, advanced OT and IoT threat detection and strength across deployments. Nozomi Networks solutions support more than 3.6 million devices in more than 2,400 installations across energy, manufacturing, mining, transportation, utilities, building automation, smart cities and critical infrastructure. Nozomi Networks products are deployable onsite and in the cloud and span IT, OT and IoT to automate the hard work of inventorying, visualizing and monitoring industrial control networks through the innovative use of artificial intelligence. Use cases stretch beyond cybersecurity, and include trouble shooting, asset management and predictive maintenance
“With this investment in Nozomi Networks we are reinforcing Telefónica’s commitment to cybersecurity in industrial environments and critical assets exposed to constant and ever-changing threats. Monitoring and threat detection systems are highly important in helping to minimize these risks and in this field the artificial intelligence-based technology developed by Nozomi Networks is essential for our industrial customers,” explains Guenia Gawendo, director of Telefónica Innovation Ventures.
The investment through TIV reinforces the partnership agreement announced earlier this year between ElevenPaths, the cybersecurity company integrated into Telefónica Tech, and Nozomi Networks. The ElevenPaths partnership enables industrial infrastructure operators to gain advanced visibility and manage their security by means of a smart MSSP solution. The managed security service, available through ElevenPaths, incorporates Nozomi Networks solution to provide risk management capabilities for industrial network and critical infrastructure customers including energy, utilities and others.
“The COVID-19 pandemic has accelerated the need for companies to improve the visibility of their assets and update their inventories, as they urgently obtain new devices and applications to enable the possibility of teleworking,” said Pedro Pablo Pérez, CEO of ElevenPaths, Telefónica Tech’s cybersecurity company.
“The support of Telefónica – one of the world’s largest international telecommunications providers and a leader in developing and delivering security services – helps strengthen global awareness for Nozomi Networks technology,” said Edgard Capdevielle, CEO of Nozomi Networks. “Telefónica fully understands that it’s no longer enough simply to protect IT networks. It’s also essential to invest in detecting, monitoring and mitigating OT and IoT-related risks.”
Over the next four years the ICS (industrial control systems) security market is expected to experience a 23% Compound Annual Growth Rate (CAGR).
Nozomi Networks’ total funding to date exceeds $54M with top-tier investors including GGV Capital, Lux Capital, Energize Ventures and Planven Investments.
This investment in Nozomi Networks expands Telefónica Innovation Ventures’ portfolio of 11 invested startups and technology partners linked to the group’s global strategy and the transformation of the telco industry.
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