Tekfen Invests in Industrial Cybersecurity Leader Claroty
Brings Total Funding to $93 Million
NEW YORK, June 11, 2018 /PRNewswire/ -- Tekfen Ventures has made an investment in Claroty (https://www.claroty.com/) to support innovation and security in industrial control networks. The investment in Claroty, a leading cybersecurity provider, is part of Tekfen's commitment to technological advances in critical heavy industries in Turkey and abroad. Tekfen Ventures invested in Claroty as part of a consortium of leading global industrial operators.
Claroty is well-positioned to meet the security needs of increasingly connected, smart industrial assets that are vulnerable to cyberattacks. The company is supported by leading industrial controls system companies and a syndicate of new investors including Temasek, Siemens, Schneider Electric, and Rockwell Automation. Existing investors Bessemer Venture Partners, Team8, Innovation Endeavors, ICV, and Mitsui also participated.
"Claroty is the clear leader in cybersecurity for industrial control systems. After assessing many other companies in the marketplace, it was abundantly clear to us that Claroty's experience translated into the best protection for customers," said Sinan Uzan, Board Member, Tekfen Holding. "As not only builders, but also operators, of major industrial assets, we see the growing threat of connected operations and need to be proactive in pursuing solutions to protect these resources. This makes Claroty a great strategic fit for Tekfen."
Founded in 2014, the company was incubated by Team8, a global cybersecurity platform funded by industry leaders including Microsoft, Cisco, Qualcomm and Intel. Claroty provides visibility into industrial networks, combining secure remote access with continuous monitoring for threats, that allows companies to operate securely. The company's customers span six continents and nine verticals, and include numerous Fortune 500 companies.
Tekfen Holding
Tekfen Holding is a publicly traded industrial conglomerate based in Istanbul Turkey. It has 18,000 employees across forty companies and twelve subsidiaries. Tekfen Holding is active in international contracting (112th in ENR's 250 Largest International Contactors), agri-industry (38% of Turkey's fertilizer production capacity), and real estate development. The Tekfen Group's founding partners have served as the originators, benefactors and directors of many environmental, educational, and social NGOs. http://www.tekfen.com
Tekfen Ventures
Tekfen Ventures is the corporate venture arm of Tekfen Holding. The fund focuses on Series A and Series B investments in uniquely impactful technology companies that are shaping the future of construction, manufacturing, heavy industry, real estate and agriculture. https://www.tekfenventures.com/
SOURCE Tekfen Ventures
Share this article