sb-eu logo
Story image

Radiflow raises $18m with support from Singapore engineering firm

16 Jul 2018

Industrial cybersecurity solution provider now has $18 million more in its coffers after a successful investment round.

Radiflow designs solutions for ICS and SCADA networks in critical infrastructure and currently protect OT networks of more than 50 critical infrastructure providers.

The latest funding round was led by ST Engineering Ventures, the corporate venture capital unit of Singapore-based tech engineering group ST Engineering.

Radiflow’s existing investors, led by Zohar Zisapel, also participated in the funding round.

Radiflow will use the investment funds to extend its sales network to support market demand, strengthen its brand around the world and continue developing its solutions.

According to Radiflow, the company has more than doubled sales of its threat detection tools and services over the past year, signifying strong demand for its industrial cybersecurity solutions.

The company has also recently announced collaboration partnerships with Palo Alto Networks and RSA to support field deployments and comply with regulations.

“This investment in Radiflow demonstrates ST Engineering’s focus in identifying startups with global best-in-class technologies for collaboration opportunities,” says ST Engineering chief strategy officer Low Ka Hoe.

“The access to our established business networks and channels will help these companies to expand and accelerate the scope of their growth, developing solutions that will benefit our global customers.”

ST Engineering will also be able to access Radiflow’s detection and prevention tools, which have been integrated with its Rail Command, Control and Communications (C3)  Systems (SCADA) – in this instant the rail supervisory control and data acquisition (SCADA) system.

Radiflow says the combination of these two technologies has resulted in the development of the region’s first end-to-end cybersecurity solution for the rail transport industry.

"We are excited that ST Engineering has extended its partnership with us and has decided to make a strategic investment in Radiflow,” comments Radiflow CEO Ilan Barda.

“The collaboration between ST Engineering and Radiflow will enable us to introduce our solutions to new customers and territories, while this new investment will facilitate us to expand our market traction and accelerate the next stage of our growth."

Radiflow’s customers include Tier 1 critical infrastructure operators in the United States and Europe, and endorsements from leading US national labs and consultants.

Radiflow’s wide product portfolio, which consists of risk assessment, threat detection and secure remote access tools with unique in-depth industrial asset visibility, anomaly detection and distributed architecture, offers extensive use cases and applications for protecting ICS and SCADA networks.

Story image
Rising threat of data breaches among enterprises drives growth in network security revenue
"Key factors leading to the growth of network security market revenue in the Asia Pacific region includes instances of ransomware attacks, targeted attacks and phishing."More
Story image
UK university targeted by one million malicious email attacks
The messages included spam, malware and phishing attacks.More
Story image
DDoS attacks surge, becoming more sophisticated
After doubling from Q1 to Q2, the total number of network layer attacks observed in Q3 doubled again — resulting in a 4x increase in number compared to the pre-COVID levels in the first quarter. More
Story image
Video: 10 Minute IT Jams - SonicWall VP on the benefits of Boundless Cybersecurity
Today's interviewee will discuss the ins and outs of the company's Boundless Cybersecurity solution and how it can help APAC organisations adjust to the new normal, as well as explaining the 'cybersecurity business gap'.More
Story image
Video: 10 Minute IT Jams - Vectra AI exec discusses cybersecurity for Office 365
In Techday's second IT Jam with Vectra AI, we speak again with its head of security engineering Chris Fisher, who discusses the organisational impact of security breaches within Microsoft O365, why these attacks are on the rise, and what steps organisations should take to protect employees from attacks.More
Story image
Zerto launches security solutions for containerised applications
The company has launched its beta program of Zerto for Kubernetes (Z4K), an extension of its Zerto Platform, to support next-generation, cloud native applications.More