Claroty concludes acquisition of Medigate; seeks to secure XIoT

Claroty, the industrial cybersecurity company, has recently announced the acquisition of Medigate, a leading healthcare IoT security company.

The acquisition has exclusively enabled Claroty to obtain the XIoT (Extended Internet of Things) by delivering unmatched protection, visibility, and threat detection for all organizations connected through one comprehensive solution.

Yaniv Vardi, CEO of Claroty, said that the highly consistent CPS has become certain in recent years in industrial and healthcare ecosystems to drive innovation, sustainability, resilience, and better health outcomes. And in this regard, Claroty and Medigate will combine the deep domain knowledge and focused technologies into a comprehensive ecosystem covering all types of CPS and connected devices to secure the XIoT.

Vardi added that both the firms wish to create a future where cyber and physical worlds connect safely to support people's lives.

It has been reported that in 2021, the ransomware attacks that affected the CPS in all sectors surpassed record-breaking highs. In addition, the healthcare systems reported around 82% of IoT cyberattacks in the last 18 months. This has imposed new security regulations and even delegated various organizations to take stringent actions.

Jonathan Langer, Co-founder and CEO of Medigate, said that the partnership between Medigate and Claroty will be one of its kind, forming the only cybersecurity company which can provide the best-of-breed solution for all the critical assets across the healthcare, industrial, and enterprise ecosystem, which comprises the XIoT.

Moreover, the acquisition was sponsored by Claroty's $400 million Series E round, declared in December 2021. The round was led by Bessemer Venture Partners, Standard Investments, Schneider Electric, SoftBank Vision Fund 2, Rockwell Automation, Team8, and ISTARI (a global cybersecurity platform established by Temasek).

To date, Claroty has raised $635 million, making it one of the most funded cybersecurity companies in the healthcare (IoMT), industrial (OT), and enterprise IoT sectors.

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