ANTA CLARA, California, June 1, 2022 / PRNewswire / – Ordr has raised an additional $ 40 million to meet the growing need for organizations to understand, manage and secure the growing number of connected devices in their environment, including the Internet of Medical Things (IoMT), the Internet of Things (IoT) and Operation Technology (OT). ). The financing round was led by Battery Ventures and Ten Eleven Ventures with the participation of new investor Northgate Capital and continuing investors Wing Venture Capital, Unusual Ventures, Kaiser Permanente Ventures and the Mayo Clinic. Other investors in Ordr’s Series C include Silicon Valley entrepreneurs René Bonvanie, former CMO of Palo Alto Networks, Dan Warmenhoven, former chairman and CEO of NetApp, and Dominic Orr, former chairman and CEO of Aruba Networks. With this funding, Ordr has raised more than $ 90 million to date.
Ordr addresses two key business initiatives associated with a growing reliance on and introduction of connected devices: digital transformation and Zero confidence. Each new device connection increases an organization’s attack surface along with the potential for a breach or ransomware attack. In industries such as healthcare and manufacturing, a cyberattack affecting an IoT device can easily disrupt the entire enterprise or become a life-threatening situation. For organizations to quickly move from “detection” to “response”, it requires insight into the compromised entity where it is located and what policies can be applied.
Ordr has raised an additional $ 40 million in Series C funding.
Ordr offers complete and accurate asset visibility, automates and enforces Zero Trust policies, and accelerates incident response with hours of insight into entities and risks. As a result, Ordr experienced more than 140% year-on-year growth in new customer revenue in its most recent quarter, ending March 31, 2022, is deployed at 3 of the world’s 6 best hospitalsand has been adopted across more than 150 production sites.
“Ordr has built a platform that not only solves a major market problem – the need to definitely understand and protect what connects your organization’s network – but is truly scalable to keep up with the speed of today’s businesses. We’ve worked with Ordr’s team “and on their own, how well they have executed against aggressive targets. This additional funding will accelerate Ordr’s market leadership and market success,” said Dharmesh Thakker, general partner at Battery Ventures.
“We believe that the market for connected devices needs a strong, open and independent player that prioritizes customer success, focuses on time to value and integrates with all the key components of a customer’s security and network infrastructure. This funding validates our best-in-class approach and strengthen our market leadership, “said Greg Murphy, Ordr CEO.
Ordr plans to use the Series C financing to accelerate its sales and marketing efforts, especially in vertical markets such as healthcarewhere the company has been given the name a market leader in the Healthcare IoT security industry by the analyst firm KLAS Research for three consecutive years. The company will also look at further leveraging the steadily increasing demand from manufacturing and financial servicesexpand its channel and partnership programs and accelerate investment in customer success.
“To advance their digital transformation goals, every organization must enable visibility and security for connected devices, including IoT, IoMT and OT. Ordr is a much needed innovator in the market, with the ability to not only deliver granular visibility into devices, risks and behaviors, but also automate and enforce Zero Trust policies to secure these devices against attack, “said Justin Stebbins, partner, Northgate capital.
“As an early investor in the company, I have witnessed Ordr’s impressive product development and growing traction in critical sectors, including healthcare, manufacturing, education and expanded corporate IoT. They have developed one of the most scalable and technically robust platforms on market., and some of the world’s leading organizations rely on it to meet important security needs and provide business insights. The time has come to accelerate the company’s mission to be a leader in connected device security. chapter.” said Alex Doll, founder and managing partner of Ten Eleven Ventures.
Since its last round of financing, Ordr has experienced tremendous growth, which coincides with an increased understanding of the organizational risk that unknown affiliated entities represent. Some additional highlights since the last round of funding include:
“Data privacy and security are compelling IT initiatives in the healthcare sector, where especially connected device security is a critical need given the increase in connected devices in healthcare facilities. Kaiser Permanente Ventures is pleased to continue its investment in Ordr as a key technology leader in this space to help protect connected devices automatically, preventively and on a scale across the enterprise, “said Chris Stenzel, CEO, Kaiser Permanente Ventures.
In continuation of the momentum of the past year, Ordr today also strengthened its management team with the addition of Paul Davis as the company’s new vice president of customer success. Paul has decades of experience in customer-facing roles at Axis Security, Splunk, Cisco and other leading organizations. At Ordr, he will be responsible for managing customer relationships and ensuring the successful implementation and use of Ordr technology.
Ordr makes it easy to secure any connected device, from traditional IT devices to newer and more vulnerable IoT, IoMT and OT. Ordr Systems Control Engine uses deep packet inspection and advanced machine learning to detect each device, profile its risks and behaviors, map all communications and protect it with automated policies. Organizations around the world trust Ordr to deliver real-time assets, address risks and compliance, and accelerate IT initiatives. Ordr is backed by top investors including Battery Ventures, Wing Venture Capital, Ten Eleven Ventures, Northgate Capital, Kaiser Permanente Ventures and Unusual Ventures.
For more information, visit www.ordr.net and follow Ordr på Twitter and LinkedIn.