Israeli cybersecurity firm SIGA snares $8.1m in Series B round

Operational technology cybersecurity business SIGA OT Solutions has secured funding of $8.1m from a Series B capital raise.

According to Security Week, the round was led by PureTerra Ventures and also saw participation from venture fund SIBF, Pheonix Contact and Moore Capital. Following this round, SIGA has raised $15m to date.

Founded in 2014, SIGA markets the SigaPlatform, which is a process anomaly detection system that monitors critical assets using electric signal-based predictive analysis and artificial intelligence and by monitoring Level 0 electrical signals.

The platform also acts as the ‘first line of misbehaviour discovery’ to ensure continued operational optimisation at all times.

SIGA commented, “Level 0 is the richest and most reliable level of process data within any operational environment. This level includes electrical signals from the sensors installed on equipment and machinery of electrical, gas and water utilities, industrial plants, and military facilities. This data cannot be manipulated by cyberattacks, similar to the manipulations in dozens of serious attacks that took place in recent years.”

SIGA currently has locations in Beer-Sheva in Israel and Delaware in the United States. The firm claims its solution – available on a monthly-subscription basis – has been used in organisations around the world in regions like Israel, Singapore and the United States.

SIGA claims it intends to use the newly raised money to accelerate sales and strategic collaborations in Europe, the Far East, the United Arab Emirates and North America.

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