Telefónica invests in Nozomi Networks, a leading company in OT and IoT security
- Its technology guarantees advanced cybersecurity, improved operational reliability and simple IT/OT integration
- The investment, made through Telefónica Innovation Ventures, reinforces an earlier joint services agreement with Nozomi Networks and ElevenPaths, Telefónica Tech’s cybersecurity company
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.
About Telefónica Innovation Ventures
TIV (Telefónica Innovation Ventures) is TEF’s Corporate Venture Capital vehicle which was launched to overcome the major challenges of transforming the Telco industry and creating new businesses by using cutting-edge technologies. To achieve the above, TIV invests directly in startups and/or as a limited partner in a network of VC (Venture Capital) funds that lead key markets so as to build strategic partners aligned with the TEF’s Group’s global strategy. TIV currently has a portfolio of 11 startups with direct investment and more than 90 startups with investment through the network of 11 VC funds.
At ElevenPaths, the Telefónica Group’s global cybersecurity company, we believe that a safer digital world is possible. We support our customers with their digital transformation, creating disruptive innovation in cybersecurity to provide the privacy and trust required in our daily digital lives.
We combine the freshness and energy of a start-up with the knowledge, power, and strength of a global Telco to provide innovative solutions spanning across prevention, detection, and response to daily threats in our digital world.
We also work to ensure a safer digital environment through strategic alliances that allow us to enhance our customer's security, as well as through collaborations with leading organizations and entities such as the European Commission, CyberThreat Alliance, ECSO, EuroPol, Incibe, and the OAS.
About Nozomi Networks
Nozomi Networks is the leader in OT and IoT security and visibility. We accelerate digital transformation by unifying cybersecurity visibility for the largest critical infrastructure, energy, manufacturing, mining, transportation, building automation and other OT sites around the world. Our innovation and research make it possible to tackle escalating cyber risks through exceptional network visibility, threat detection and operational insight.