Security Market Segment LS
Wednesday, 13 October 2021 18:43

Claroty opens Asia Pacific regional HQ office in Singapore Featured

By Staff Writer

Industrial cybersecurity company Claroty has opened a regional headquarters office in Singapore, further establishing its presence in the Asia-Pacific region.

The company announced the opening on Wednesday saying it is experiencing hyper growth in the region, having doubled its client base and achieving 250% growth in revenue year-over-year from the first half (1H) of 2020 to 1H 2021.

Claroty says it has tripled its headcount in the region over the past year, with hiring occurring across seven countries.

The office opening comes shortly after Claroty’s USD 140 million in its Series D financial round, which included participation from Temasek. The company raised the round in order to meet what it says is rapidly accelerating global demand for The Claroty Platform’s visibility, threat detection, risk and vulnerability management, and secure remote access capabilities by expanding into new regions and verticals.

“With most of the region working remotely, demand for digital services in APJ is growing, and with digitalization comes inherent risk. In the industrial world, that risk is particularly high as previously isolated operational technology (OT) networks become more integrated with information technology (IT) networks, and thus exposed to a whole host of cyber threats they were not designed to face,” says Yaniv Vardi, CEO of Claroty.

“Our expansion in APJ is a reflection of this growing demand as well as the success we’ve achieved to date in the region, and we look forward to working with our strong ecosystem of partners to continue building upon this success.

“It takes specialist knowledge and experience to effectively implement cybersecurity for OT networks, and what differentiates Claroty is the depth of visibility we have into those networks when our platform is implemented,” said Eddie Stefanescu, General Manager of APJ at Claroty.

“That’s why public and private entities, including Coca-Cola EuroPacific Partners (Australia, Pacific, Indonesia), BHP, IRPC Public Company Limited, and Aboitiz Power, are investing in Claroty,” Stefanescu adds.

According to Stefanescu, “Across Australia and Asia, Claroty is a strong partner for companies in the oil and gas, utilities, manufacturing, water, and electrical power industries, but our customer base is broadening. In the past year, we have also experienced strong growth in the food and beverage sector, and in the pharmaceutical sector for the distribution of Covid-19 vaccines.”

Vardi says that the company secures every connected device within the four walls of an industrial site, including OT, Internet of Things (IoT), and Industrial Internet of Things (IIoT) assets. Stefanescu qualified this for the APJ region, saying, “Throughout the pandemic, with increasing remote connections, we expanded our capabilities to help our customers secure their IoT devices within the bounds of the industrial environment.”

“Temasek invested in Claroty because the team understands critical infrastructure cybersecurity better than anyone in the industry,” said Rashmy Chatterjee, CEO of Temasek’s cybersecurity platform ISTARI and Claroty board member.

“We are delighted to see the company expand its presence in APJ, as the largest enterprises in the region – and the world – continue to rapidly adopt The Claroty Platform to protect their operational and production environments.”

Claroty says it grew its partner base in the region by 70% over the past year - “acked and adopted by leading industrial automation vendors” - with partners including KPMG, Yokogawa Engineering Asia, Tesserent, SiS International Limited and Inflow Technologies.

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