iS5Com, a Canadian provider of cyber-secure industrial platforms, recently announced it has completed a $22 million (Canadian) round of funding. Phoenix Contact (News - Alert) Innovation Ventures led the round with participation from new investors, existing shareholders and management.
Representatives from Phoenix Contact Innovation Ventures and ClearSky have joined iS5Com's Board of Directors. iS5Com will use the funding to further enhance its revolutionary RAPTOR™ platform which launched earlier this year, and to develop advanced innovative solutions for securing critical infrastructure communications and networks.
Operational Technology (OT) systems that run mission-critical networks have increasingly come under attack. New cyber-security standards designed to protect these OT assets continue to evolve and strengthen. iS5Com's RAPTOR provides users the ability to securely connect and manage their mission critical networks from current and future cyber-security threats.
"This strategic investment round further demonstrates the uniqueness of the RAPTOR platform. Modularity, security, and scalability for the future should make RAPTORTM the de facto standard for protecting critical infrastructure," said Marcus Böker, Managing Director of Phoenix Contact Innovation Ventures.
With this round of funding, iS5Com is well-positioned to accelerate its growth and market penetration with very key strategic investors.
"The combination of ClearSky and Phoenix Contact Innovation Ventures will help us accelerate our growth in the various critical infrastructure markets, and will also allow us to target other parts of the industry like edge/fog computing," said Clive Dias, Founder and CEO, iS5Com. "New communications technologies combining edge and fog computing with OPC UA and TSN will create a powerful functionality in Industrial Automation. iS5Com and the RAPTORTM platform are well positioned to provide new innovative solutions for our target markets and more."