Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Siga secures $8.1M Series B to prevent cyberattacks on critical infrastructure By: TechCrunch August 09, 2021 at 07:00 AM EDT Siga OT Solutions, an Israeli cybersecurity startup that helps organizations secure their operations by monitoring the raw electric signals of critical industrial assets, has raised $8.1 million in Series B funding. Siga’s SigaGuard says its technology, used by Israel’s critical water facilities and the New York Power Authority, is unique in that rather than monitoring […] Siga OT Solutions, an Israeli cybersecurity startup that helps organizations secure their operations by monitoring the raw electric signals of critical industrial assets, has raised $8.1 million in Series B funding.Siga’s SigaGuard says its technology, used by Israel’s critical water facilities and the New York Power Authority, is unique in that rather than monitoring the operational network, it uses machine learning and predictive analysis to “listen” to Level 0 signals. These are typically made up of components and sensors that receive electrical signals, rather than protocols or data packets that can be manipulated by hackers.By monitoring Level 0, which Siga describes as the “richest and most reliable level of process data within any operational environment,” the company can detect cyberattacks on the most critical and vulnerable physical assets of national infrastructures. This, it claims, ensures operational resiliency even when hackers are successful in manipulating the logic of industrial control system (ICS) controllers.Amir Samoiloff, co-founder and CEO of Siga, says: “Level 0 is becoming the major axis in the resilience and integrity of critical national infrastructures worldwide and securing this level will become a major element in control systems in the coming years.”The company’s latest round of funding — led by PureTerra Ventures, with investment from Israeli venture fund SIBF, Moore Capital, and Phoenix Contact — comes amid an escalation in attacks against operational infrastructure. Israel’s water infrastructure was hit by three known cyberattacks in 2020 and these were followed by an attack on the water system of a city in Florida that saw hackers briefly increase the amount of sodium hydroxide in Oldsmar’s water treatment system. The $8.1 million investment lands three years after the startup secured $3.5 million in Series A funding. The company said it will use the funding to accelerate its sales and strategic collaborations internationally, with a focus on North America, Europe, Asia, and the United Arab Emirates. Read more:Industrial cybersecurity startup Nozomi Networks secures $100M in pre-IPO fundingResearchers simulate a ransomware attack on industrial controlsA newly discovered hacking group is targeting energy and telecoms companiesDragos raises $110M Series C as demand to secure industrial systems soars Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Siga secures $8.1M Series B to prevent cyberattacks on critical infrastructure By: TechCrunch August 09, 2021 at 07:00 AM EDT Siga OT Solutions, an Israeli cybersecurity startup that helps organizations secure their operations by monitoring the raw electric signals of critical industrial assets, has raised $8.1 million in Series B funding. Siga’s SigaGuard says its technology, used by Israel’s critical water facilities and the New York Power Authority, is unique in that rather than monitoring […] Siga OT Solutions, an Israeli cybersecurity startup that helps organizations secure their operations by monitoring the raw electric signals of critical industrial assets, has raised $8.1 million in Series B funding.Siga’s SigaGuard says its technology, used by Israel’s critical water facilities and the New York Power Authority, is unique in that rather than monitoring the operational network, it uses machine learning and predictive analysis to “listen” to Level 0 signals. These are typically made up of components and sensors that receive electrical signals, rather than protocols or data packets that can be manipulated by hackers.By monitoring Level 0, which Siga describes as the “richest and most reliable level of process data within any operational environment,” the company can detect cyberattacks on the most critical and vulnerable physical assets of national infrastructures. This, it claims, ensures operational resiliency even when hackers are successful in manipulating the logic of industrial control system (ICS) controllers.Amir Samoiloff, co-founder and CEO of Siga, says: “Level 0 is becoming the major axis in the resilience and integrity of critical national infrastructures worldwide and securing this level will become a major element in control systems in the coming years.”The company’s latest round of funding — led by PureTerra Ventures, with investment from Israeli venture fund SIBF, Moore Capital, and Phoenix Contact — comes amid an escalation in attacks against operational infrastructure. Israel’s water infrastructure was hit by three known cyberattacks in 2020 and these were followed by an attack on the water system of a city in Florida that saw hackers briefly increase the amount of sodium hydroxide in Oldsmar’s water treatment system. The $8.1 million investment lands three years after the startup secured $3.5 million in Series A funding. The company said it will use the funding to accelerate its sales and strategic collaborations internationally, with a focus on North America, Europe, Asia, and the United Arab Emirates. Read more:Industrial cybersecurity startup Nozomi Networks secures $100M in pre-IPO fundingResearchers simulate a ransomware attack on industrial controlsA newly discovered hacking group is targeting energy and telecoms companiesDragos raises $110M Series C as demand to secure industrial systems soars