Mission Secure Announces Series B Venture Funding to Further Advance Its Patented OT Cybersecurity Protection Platform
New investment will propel technology innovations for the Mission Secure Platform and bring on more ICS cybersecurity experts to support risk assessments and 24/7 managed services for an expanding global customer base
CHARLOTTESVILLE, Va., Jan. 26, 2021 /PRNewswire/ -- The expansion of digital technologies accompanied by an upswing in ICS-specific threats targeting these critical infrastructure ecosystems is driving operational technology (OT) and industrial control system (ICS) cybersecurity demand in defense, critical infrastructure, and process industries. Mission Secure, a leading ICS cybersecurity technology company, today announced the closing of a Series B financing round from existing and new investors in North America and Europe representing key global industrial sectors. Mission Secure will use the new funding to advance the innovative technologies in its patented cyber-protection platform and to recruit additional ICS cybersecurity experts to support 24/7 managed services for its expanding global customer base in oil and gas, chemicals, maritime, manufacturing, smart cities, and defense organizations.
Mission Secure's Series B funding round is co-led by:
IREON Ventures Ltd., the corporate venture innovation arm of Motor Oil Hellas, a leading petroleum company in Southern Europe and the Mediterranean;
Energy Innovation Capital, the premier capital provider to entrepreneurs addressing the world's most difficult energy-related challenges; and
Blue Bear Capital Partners, an investor in high-growth technology companies across the energy, infrastructure, and climate industries in North America and Europe.
The Series B investment brings the company's total funding to date to $22.5 Million. Other Series B investors include Chevron Technology Ventures, the corporate venture capital arm of Chevron Corporation investing in early and growth-stage companies and the University of Virginia LVG Seed Fund.
"The cybersecurity concerns associated with OT have never been higher which is driving extraordinary levels of customer interest and demand," said David Drescher, Chief Executive Officer and Co-Founder of Mission Secure. "Our Series B funding is an investment by industry leaders helping us bring even greater OT technology innovations to market with our Mission Secure Platform and recruit the best and brightest OT cybersecurity experts for our Managed Services team to support our mission of protecting our global customers' OT networks and safeguarding their operations."
"With our roots in downstream refining and marketing, we understand the need to protect critical assets from cyber threats and to maintain operational resilience," said Hector Kimonides, Principal at IREON Ventures. "Our investment in Mission Secure is ultimately an investment in the future of our own businesses."
"As the digitization of the energy industry continues and increasing numbers of devices get connected, Mission Secure provides a level of industrial cybersecurity protection critical energy infrastructure owners are asking for," said George Coyle, Managing Partner of Energy Innovation Capital (EIC). "We initially invested in Mission Secure in 2018 because they enable safer, more cost-effective operations by protecting industrial control system and operational assets. We're pleased to reinvest and co-lead this round of growth financing."
The primary objective in protecting OT and ICS environments is preventing cybersecurity incidents – making sure they never happen. But further, it involves recognizing the reality that cyber attacks on ICS will sometimes succeed and having the expertise and capabilities in place to rapidly detect and isolate intrusions and remediate and restore operations. This is the mission that unites the Mission Secure team.
About Mission Secure: Mission Secure®, an OT cybersecurity leader, is setting a new standard in OT cyber-protection stopping OT cyber threats head-on. The Mission Secure Platform backed by 24/7 Managed Services is the first to seamlessly integrate OT visibility, segmentation, protection, threat hunting, and incident response delivering military strength, industrial grade OT protection. With Mission Secure, customers keep critical operations up and running and safe from harm. Learn more at https://www.missionsecure.com.
About Energy Innovation Capital: Energy Innovation Capital is the premier capital provider for innovators serving the energy industry. EIC provides early and growth-stage funding for visionary entrepreneurs tackling global energy challenges with transformative, market-leading solutions. EIC's team leverages our industry expertise, networks and collaborative approach to help talented entrepreneurs push the boundaries of what's possible and build great companies. To learn more, visit www.energyinnovationcapital.com.