Safeguarding Civilization

How about a company whose mission is to safeguard civilization?!

That’s exactly what Dragos aims to do, the latest investment of Fabrica Ventures Fund II.

Dragos provides industrial cybersecurity for OT (Operational Technology) environments such as electric grid operations, water systems, oil & gas, chemical plants, manufacturing facilities, data centers, etc. — these environments have one thing in common: they are managed digitally but interact with the real physical world.

If these core value creation assets go down, they halt production and impede operations. As they become more interconnected, their attack surface grows, turning them into increasingly appealing targets for ransomware and customized malware.

Production assets were initially deployed to perform specific custom tasks, and security was not central to their design and architecture. The notion that those assets were fully “air gapped” once led to a “security by obscurity” mindset out of the belief that no one would likely discover and target these systems. As industrial systems started connecting to each other and then to enterprise IT systems, a new security discipline was developed.

So, Dragos has emerged as a leader in industrial cybersecurity, developing an automated platform that provides visibility into mission-critical assets, detection of threats through behavioral analytics, collection and correlation of various industrial control systems (ICS) and OT data sets.

Dragos was mostly invested (and recurrently) by Corporate VCs of gigantic industrial complexes: Koch, Aramco, National Grid, Emerson, Rockwell, Schweitzer

The company is relatively new, series A happened in August 2017, and it has been growing at an 80%+ CAGR since 2018.

Dragos is well capitalized, $456M of equity raised, and the last funding round of September 2023 valued it at $1.8B.

Conclusion

Threats on mission-critical environments are on the rise. That is why the global industrial cybersecurity market is expected to reach $10.2B by 2025, growing at 25% per year.

Dragos is already the market leader and represents our commitment to the sector of safeguarding civilization.