Critical infrastructure protection firm Indegy closed Aug. 28 on an $18 million Series B round of financing led by Liberty Technology Venture Capital, a subsidiary of Liberty Media.
Energy firm Centrica, O.G. Tech Ventures, and existing investors Shlomo Kramer, Magma Venture Partners, Vertex Ventures, and Aspect Ventures also participated in the financing round.
Centrica supplies energy and services to 25 million customers mainly in the UK, Ireland, and North America through British Gas, Direct Energy and Bord Gáis Energy. Centrica made the investment through its Innovations arm.
“With a growing customer portfolio that spans 35 countries, we’re working to bring businesses world-leading energy management solutions that will allow customers to take greater control of their energy,” said Christophe Defert, vice president of ventures for Centrica Innovations.
“In an increasingly connected world, we’re looking forward to working with Indegy as we explore ways to deploy distributed energy resources with the optimal security solution.”
Indegy will use the money to accelerate growth and expand market initiatives for its critical infrastructure protection suite of products, which protect systems used in manufacturing, energy, water, pharmaceuticals, and other critical infrastructures from cyberattacks.
“Recent reports by the DHS and FBI regarding attacks against critical infrastructures have created a greater sense of urgency among industrial organizations to shore up their defenses, and produced a major spike in new business for Indegy,” said Indegy CEO Barak Perelman.
“This capital infusion provides the financial resources required to scale up the company and capitalize on this market opportunity,” he added.
Scotto, Warwick Join Indegy
Furthermore, Indegy appointed two new executives to its management team. Joe Scotto joins as chief marketing officer, and Todd Warwick takes over as vice president of sales for the Americas.
Scotto joins Indegy from BAE Systems, where he served as vice president for Americas marketing. Previously, he held positions with KPMG, Avaya and Time Warner, where he led product and solutions marketing for their multichannel global SMB business.
Warwick joins Indegy from Imperva, where he served as AVP of sales. He has held sales management positions at Check Point Software and Alcatel-Lucent which was acquired by Nokia in 2016.